UAE quits OPEC after 60 years | 7NEWS
The United Arab Emirates has withdrawn from OPEC after 60 years of membership, dealing a significant blow to the oil cartel and Saudi Arabia. As OPEC’s third-biggest producer, the UAE’s departure could further destabilise global oil markets and weaken the organisation’s influence during a major supply crisis. The US President has accused OPEC of inflating oil prices at the expense of the rest of the world.
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