The United Arab Emirates has announced it will leave OPEC and OPEC+ effective May 1, ending a membership that began in 1967—four years before the UAE was founded as a country. This signals a turning point in the UAE’s role in global energy.
The government statement, published on state news agency WAM, cited a comprehensive review of the country’s production policy and capacity as the basis for the move, calling it a reflection of “the UAE’s long-term strategic and economic vision and evolving energy profile.”
The decision, it said, is rooted in national interest and a commitment to meeting what it described as
→ Continue reading at WIRED
