UAE to withdraw from OPEC, largest petroleum organization, decision taken amid Iran war
Amid the ongoing global oil crisis, the United Arab Emirates (UAE) has taken a major decision. The UAE has withdrawn from the petroleum-rich groups OPEC and OPEC+. The UAE's Energy Minister stated, "This decision was made independently and there was no direct consultation with any other country, including Saudi Arabia. We are capable of making our own decisions." Amid tensions with Iran, the United Arab Emirates (UAE) has taken a major decision. The UAE has decided to withdraw from the petroleum countries' groups OPEC and OPEC+. This decision has been taken at a time when it is facing tensions with the Gulf Council (GCC). This move by the UAE could be a major blow to the groups' de facto leader, Saudi Arabia. The departure of the UAE, a longtime member of OPEC, could create chaos and weaken the group, which has generally tried to show unity despite internal differences on many issues ranging from geopolitics to production quotas. OPEC countries are already facing ...