JUST IN: UAE withdraws from OPEC, OPEC+
Add us on Google The United Arab Emirates has announced its withdrawal from the Organisation of Petroleum Exporting Countries (OPEC). It is also withdrawing from the global oil bloc’s wider alliance, OPEC+. The UAE energy ministry announced this in a statement on Tuesday. “This decision follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on our national interest and our commitment to contributing effectively to meeting the market’s pressing needs,” it said. Stay Ahead with Premium Times Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting. Add as a preferred source on Google /* 1. 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The UAE’s formal exit has been set for Friday, the 1st of May. The UAE is one of the largest oil-producing countries in OPEC, producing about 3.5 million barrels per day before the US/Israel war on Iran disrupted global oil production and distribution. Share this: Click to share on X (Opens in new window) X Click to share on Facebook (Opens in new window) Facebook Click to share on WhatsApp (Opens in new window) WhatsApp Click to share on Telegram (Opens in new window) Telegram Click to share on LinkedIn (Opens in new window) LinkedIn Click to email a link to a friend (Opens in new window) Email Click to print (Opens in new window) Print Stay Ahead with Premium Times Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting. Add as a preferred source on Google / 1. 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