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UAE says it is withdrawing from OPEC and OPEC+, dealing a blow to the oil producer cartels
https://p.dw.com/p/5Cx2h![Logo and signage in Vienna, Austria, for the Organization of the Petroleum Exporting Countries]( "Logo and signage in Vienna, Austria, for the Organization of the Petroleum Exporting Countries")
The news is a blow to the oil exporting groups and their de facto leader, Saudi ArabiaImage: Barbara Gindl/dpa/picture alliance
The United Arab Emirates has said it will leave OPEC and OPEC+, dealing a major blow to the producer alliance during a global energy shock.
State media said the move, effective May 1, reflects the UAE's long-term strategic and economic priorities as oil markets remain volatile amid the Iran war.
This is a breaking story that will be updated...
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