UAE withdraws from OPEC and OPEC+
It comes at a time when the war on Iran has triggered an energy shock.
Black News 
The United Arab Emirates (UAE) says it is withdrawing from the Organisation of the Petroleum Exporting Countries (OPEC) and OPEC+, delivering a major blow to the oil-producing alliances.
It comes at a time when the war on Iran has triggered an energy shock and rattled the global economy.
The departure of the UAE, a longstanding member of OPEC, could sow uncertainty and weaken the bloc, which has traditionally sought to project unity despite internal tensions over geopolitics and production quotas.
UAE Energy Minister Suhail Mohamed al-Mazrouei says the decision followed a careful review of the country’s current and long-term energy strategy.
Asked whether the UAE consulted with OPEC’s de facto leader, Saudi Arabia, he said the UAE did not raise the issue with any other country.
“This is a policy decision, it has been done after a careful look at current and future policies related to level of production,” said the energy minister.
