UAE Says It’s Leaving OPEC, in Major Blow to the Cartel
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The United Arab Emirates announced on Tuesday that it is leaving the Organization of the Petroleum Exporting Countries, known as OPEC, and OPEC+, in a major blow to the cartel amid an energy crisis caused by the U.S. and Israel’s war with Iran. The country’s departure will take effect on May 1, it announced in a statement issued through its state news media. It will allow the country to…