United Arab Emirates announces exit from OPEC and OPEC+ amid regional tensions
The United Arab Emirates (UAE) has declared it will leave the Organization of the Petroleum Exporting Countries (OPEC) and its allied group OPEC+, effective this Friday.This unprecedented move aims to prioritise the UAE's national interests amid rising energy prices and ongoing conflict in the Middle East.The UAE, one of the world's top oil producers and a founding OPEC member since 1967 through Abu Dhabi, announced the decision on Tuesday.The official statement cited the country's evolving energy profile and a desire for greater strategic and economic flexibility as key factors.The departure comes as Gulf oil shipments face disruption due to Iran's... [Continue Reading]
360LiveNews | 28 Apr 2026 14:31 LONDON
