JUST IN: UAE announces exit from OPEC

1777384513 OPEC

 The United Arab Emirates (UAE) says it is quitting the
Organization of the Petroleum Exporting Countries (OPEC) after nearly 60 years
of membership.

 

The Middle East nation is also exiting OPEC+, a wider
alliance of the oil cartel.

 

The UAE said the decision reflected its “long-term strategic
and economic vision and evolving energy profile”.

 

More to follow…