WNA Globe

World News by Wild Rose

#Exit ร—

UAE to exit Opec, dealing blow to oil cartelโ€™s unity

The United Arab Emirates announced on Tuesday that it will leave the Organization of the Petroleum Exporting Countries (Opec) and the wider Opec+ alliance effective May 1, a move that signals a push for greater control over its production strategy. The decision followed โ€œa comprehensive reviewโ€ of the countryโ€™s production policy and capacity, the Ministry of Infrastructure said in a statement, adding that it was based on national interests and a commitment to help meet global market...