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73 UAE To Leave OPEC Amid Hormuz Oil Crisis

Slashdot
BeauHD @ Slashdot 2 place · today 13:00 EDT

UAE To Leave OPEC Amid Hormuz Oil Crisis

fjo3 writes: The United Arab Emirates announced Tuesday that it would exit the Organization of the Petroleum Exporting Countries (source paywalled; alternative source), or OPEC, along with the wider group of partners known as OPEC+, effective May 1, in what could be a blow to control over prices by the group, long led in practice by Saudi Arabia. The move "reflects the UAE's long-term strategic and economic vision and evolving energy profile" read an official statement carried by a UAE state news agency, as

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