UAE exits OPEC as oil prices soar amid US-Iran deadlock

8 hours ago

The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels to focus on "national interests", it has announced, causing fresh shockwaves as energy prices soar over the Middle East war. The UAE, one of the world's top oil producers, which has previously chafed at OPEC production quotas, will pull out on Friday, a statement carried by the official WAM news