Iran/Economy/UAE leaves OPEC amid Iran war tensions

UAE leaves OPEC amid Iran war tensions

Apr 28, 202611 sources

Also covers:Gulf StatesSaudi Arabia

Summary

The United Arab Emirates announced its withdrawal from OPEC and OPEC+ amid rising tensions related to the Iran war. The exit is set to take effect in May and is seen as a significant blow to the oil cartel during a period of soaring oil prices.

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