International Relations
UAE to quit OPEC, OPEC+ in big blow to top oil exporting groups
What's happening now
The United Arab Emirates (UAE) has announced its withdrawal from OPEC (Organization of the Petroleum Exporting Countries) and the expanded OPEC+ alliance, effective May 1. This significant geopolitical and economic move by the UAE, currently the third-largest producer in the cartel, is driven by its strategy to increase domestic energy production outside the organization's quota constraints and reflects evolving regional dynamics in West Asia.
Source: Indian ExpressRead the full story →