The UAE yesterday announced it will withdraw from the OPEC after more than five decades.
The decision will take effect from May 1.
It will also exit the broader OPEC+ super group, which includes non-members led by Russia.
The decision reflects a “policy-driven evolution aligned with long-term market fundamentals,” UAE Minister of Energy and Infrastructure Suhail Al Mazrouei said.
The decision will take effect from May 1.
It will also exit the broader OPEC+ super group, which includes non-members led by Russia.
The decision reflects a “policy-driven evolution aligned with long-term market fundamentals,” UAE Minister of Energy and Infrastructure Suhail Al Mazrouei said.
