UAE Leaves OPEC in Shock Move

The United Arab Emirates announced on Tuesday it will leave OPEC and the wider OPEC+ alliance, effective May 1. The decision gives the country greater control over its own oil production strategy. The Ministry of Infrastructure said the move followed “a comprehensive review” of the UAE’s production policy and capacity. It added that the decision was based on national interests and a commitment to help meet global market needs. The exit is a blow to OPEC’s unity, as the UAE had often pushed for higher output limits within the group. By leaving, the country can now set its own production targets without waiting for approval from other members.