UAE set to will leave OPEC in blow to oil cartel
The United Arab Emirates has announced its decision to leave the OPEC oil cartel, marking a significant shift in the dynamics of the 65-year-old alliance. This move could impact global oil production, as OPEC currently accounts for about 40 percent of the world's crude oil supply. The UAE's departure raises questions about the future influence of OPEC on global energy prices.
- ▪The UAE's exit from OPEC is a major development for the oil cartel.
- ▪OPEC has been a significant player in global oil production for 65 years.
- ▪The UAE produces a substantial amount of crude oil, contributing to OPEC's overall output.
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UAE set to will leave OPEC in blow to oil cartelThe Associated PressPublished April 28, 2026The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40 per cent of the world’s crude oil and exerts major influence over the price of energy around the globe.The Associated PressPlease enable JavaScript to view this content.ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountMost PopularIsrael says Hamas military chief killed in air strike on GazaVideo1:40ISIS second in command killed by U.S.
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