Emirates

United Arab Emirates says it will permanently leave OPEC on May 1

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The United Arab Emirates said on Tuesday that it is leaving the OPEC oil cartel after more than 50 years of membership. The UAE said its decision to exit OPEC followed an “extensive review” of its production policy and future capacity. The statement also cited “geopolitical fluctuations” affecting short-term oil supplies, a reference to the … Read more

United Arab Emirates quits OPEC as Iran war raises gulf tensions

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The United Arab Emirates said Tuesday that it would leave OPEC, the Organization of the Petroleum Exporting Countries, which coordinates oil output among leading energy producing nations. The country joined OPEC in 1971. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. The departure from OPEC will likely lead … Read more