How the UAE’s OPEC exit could affect its trade ties with Saudi Arabia
How the UAE’s OPEC exit could affect its trade ties with Saudi Arabia
Opening excerpt (first ~120 words) tap to expand
(Corrects month of HSBC survey to November in paragraph 17 (not October) By Andrew Mills, Rachna Uppal and Federico Maccioni Abu Dhabi, April 29 (Reuters) - The United Arab Emirates’ withdrawal from OPEC weakens the group’s control over global oil markets and potentially risks widening a rift with Gulf neighbour Saudi Arabia, the de facto leader of the crude producers’ organisation. From diverging oil policies to geopolitical tensions over Yemen and Sudan, and growing economic rivalry, the UAE and Saudi Arabia’s relationship had been heading for a showdown for a while now, according to analysts.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Investing.com — News.