UAE LEAVES OPEC, WEAKENING OIL PRODUCERS' ALLIANCE

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The United Arab Emirates has announced it will exit OPEC, ending more than six decades of membership in a move that reshapes global oil politics and underscores growing strain within the producer alliance.
Officials said the decision takes effect on 1 May, as the region grapples with the Iran conflict that has disrupted shipping through the Strait of Hormuz and tightened global supply chains.
UAE withdrawal is expected to weaken OPEC's ability to coordinate production, widening long-running disagreements with Saudi Arabia over output limits and the direction of the oil market.





