United Arab Emirates Withdraws from OPEC
The United Arab Emirates will officially leave the Organization of the Petroleum Exporting Countries (OPEC) beginning May 1, according to a statement on Tuesday published in the UAE’s official state news agency WAM.
The announcement states that the move supports the country’s broader strategic goals for its economy and energy sector.
“This decision aligns with the United Arab Emirates’ long-term strategic and economic vision and the development of its energy sector, including accelerating investment in domestic energy production,” the statement said.
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