The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels to focus on “national interests”, it announced on Tuesday, causing fresh shockwaves as energy prices soar over the Middle East war. The UAE, one of the world’s top oil producers, which has previously chafed at OPEC production quotas, will pull out on Friday, a statement carried by the official WAM news agency said. The UAE has been an OPEC member through the emirate of Abu Dhabi since 1967, four years before the former British protectorate became a country.
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UAE pulls out of OPEC oil cartels citing ‘national interests’
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