What are OPEC and OPEC+ and why did the UAE leave?

The United Arab Emirates has announced its withdrawal from OPEC and the OPEC+ framework, effective May 1, to prioritize its national interests. With a production capacity of 4.8 million barrels per day, the UAE’s exit marks a significant shift in the group’s dynamics. The decision follows an assertive foreign policy that has distanced the UAE from other OPEC members, particularly Saudi Arabia, and comes amid increased geopolitical tensions in the region.

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