SBS News – World
·world
·2 hours ago
UAE exits OPEC, marking major shift in global oil landscape
The United Arab Emirates announced its exit from OPEC and OPEC+ effective May 1, marking a significant shift in the oil-producing group. UAE Energy Minister Suhail Mohamed al-Mazrouei stated the decision followed a review of the country's energy strategies. The departure may weaken OPEC's control over oil supplies amid rising energy demands and ongoing regional tensions.
Summary by Glance · SBS News – World
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