UAE Exits OPEC, Shaking Up Global Oil Alliance
The United Arab Emirates has decided to withdraw from OPEC, a move that is expected to significantly impact the global oil alliance and influence worldwide oil prices. This decision is seen as a strategic play by the UAE to leverage long-term global energy needs.
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Decision by the UAE to leave OPEC shakes up alliance that influences oil prices worldwide - AP News
Decision by the UAE to leave OPEC shakes up alliance that influences oil prices worldwide AP News
Read full article →How the UAE’s decision to leave Opec could recast the Middle East
Defection is damaging to Saudi Arabia’s prestige – and could strengthen the US hand in the region The United Arab Emirates’ decision to walk out of Opec is a political as much as business decision, and will reignite the simmering rows between the UAE and Saudi Arabia – which had been covered up by their shared anger with Iran over its attacks on the Gulf states since the start of the US-Israel war on Tehran. In the short term, leaving the oil producing cartel it joined in 1967 gives the UAE t...
By Patrick Wintour, Diplomatic editor
Read full article →Decision by the UAE to leave OPEC shakes up alliance that influences oil prices worldwide
The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major influence over the price of energy around the globe
By David McHugh
Read full article →UAE taking advantage of long-term global energy needs by leaving OPEC - analysis
“At a pivotal moment in the process of supporting the stability of global energy markets, the UAE adopted a long-term strategic and economic vision,” one report says.
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