SMH
·general
·2 hours ago
UAE withdraws from OPEC, advancing Trump's goal of weakening cartel
The United Arab Emirates withdrew from OPEC on May 1, advancing Donald Trump's goal of weakening the oil cartel. The UAE, OPEC's third-largest producer since 1967, sought higher production quotas to recover infrastructure investments. The departure reflects long-running tensions with Saudi Arabia's leadership and the UAE's alignment with US interests, including potential currency swap support from Washington.
Summary by Glance · SMH
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