UAE to quit OPEC and OPEC+

UAE to quit OPEC and OPEC+ The United Arab Emirates said on Tuesday that it will leave the OPEC and OPEC+ oil cartels on 1 May, state media has reported. “This decision reflects the UAE's long-term strategic and economic vision and evolving energy profile,” the official WAM news agency said. The shock announcement could cause disarray in the groups of major oil producing countries and their de facto leader, Saudi Arabia, as the fallout from the war on Iran and the feud between the two Gulf kingdoms continues.