28
Tue, Apr

UAE Quits OPEC in Major Blow to Global Oil Producers' Group

UAE Quits OPEC in Major Blow to Global Oil Producers' Group

World Maritime
UAE Quits OPEC in Major Blow to Global Oil Producers' Group
Reuters

By Maha El Dahan

DUBAI, April 28 (Reuters) – The United Arab Emirates said on Tuesday it was quitting OPEC, dealing a heavy blow to the oil producers’ group as an unprecedented energy crisis triggered by the Iran war exposes discord among Gulf nations.

The loss of the UAE, a longstanding OPEC member, could weaken the group, which has usually sought to show a united front despite internal disagreements over geopolitics and production quotas.

UAE Energy Minister Suhail Mohamed al-Mazrouei told Reuters the decision was taken after a careful look at the regional power’s energy strategies.

Asked whether the UAE consulted with OPEC’s

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