The Guardian Australia
·general
·3 hours ago
UAE to quit Opec in blow to oil exporters’ cartel
The United Arab Emirates announced its departure from Opec, effective Friday, a significant setback for the cartel. This decision, driven by ongoing tensions in the region, emphasizes the UAE's push for greater flexibility in its energy strategy. Analysts warn that this exit could result in a structurally weaker Opec and a more volatile global oil market.
Summary by Glance · The Guardian Australia
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