UAE to withdraw from OPEC, OPEC+: state media
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10 hours ago|Last Updated :
10 hours ago|The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels on May 1, state media said on Tuesday, calling it a strategic decision by the major producer.
"This decision reflects the UAE's long-term strategic and economic vision and evolving energy profile," the official WAM news agency said.
This is expected to greatly affect the oil exporting groups, amid the ongoing Iran war and its effects on energy markets.
