#OrganizationofthepetRoleUmExportIngcountriesopec

The UAE has withdrawn from OAPEC days after exiting OPEC and OPEC+, citing a strategy to gain greater flexibility over oil output

OPEC+ members agreed to raise oil output targets by 188,000 barrels per day following the UAE’s exit and amid ongoing disruptions in the Strait of Hormuz caused by the Iran war

Algeria says it remains committed to OPEC and OPEC+ after the UAE announced its exit, calling the producer groups key to global oil market stability

Russia is interested in a more predictable and structured oil market, Ivan Timofeev has told RT India

Russia says it respects the UAE’s decision to leave OPEC as Abu Dhabi seeks more control over oil output amid market turmoil

The UAE has long diversified its economy and is no longer entirely dependent on oil hydrocarbons, Obaid Ahmed Al-Zaabi says

OPEC’s third-largest oil producer, the UAE, has announced that it is withdrawing from the organization