UAE exits OPEC, dealing blow to global oil producers’ group
The United Arab Emirates has announced it will withdraw from the OPEC and OPEC+ oil alliances, a dramatic move that lands a significant blow on the producers' bloc as an extraordinary energy crisis sparked by the US-Israeli war on Iran lays bare growing rifts across the Gulf.
The departure of the UAE, a longtime OPEC member, threatens to erode the group's influence. OPEC has typically worked to project unity even when disputes over geopolitics and output targets have simmered beneath the surface.
UAE Energy Minister Suhail…