InternationalNewsAPI
Live updates: UAE to quit OPEC in blow to world’s leading oil exporters, as Iran war roils energy sector - CNN
Overview
The United Arab Emirates has announced it will withdraw from OPEC effective May 1 amid the Iran war’s disruption of global energy markets, confirming earlier reports. The decision reduces formal unity among major oil exporters and is a setback for Saudi influence, likely complicating coordinated production or price responses. It joins other major policy moves—such as emergency reserve releases and altered shipping patterns—aimed at stabilizing supply and prices.
Entities
ORGCNNORGOrganization of the Petroleum Exporting Countries (OPEC)WAM (Emirates News Agency)
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