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The United Arab Emirates said on Tuesday it was quitting Opec, dealing a heavy blow to the oil producers’ group as an unprecedented energy crisis triggered by the Iran war exposes discord among Gulf nations.
The stunning loss of the UAE, a longstanding Opec member, could create disarray and weaken the group, which has usually sought to show a united front despite internal disagreements over a range of issues from geopolitics to production quotas.
UAE Energy Minister Suhail Mohamed al-Mazrouei told Reuters the decision was taken after a careful look at the regional power’s energy strategies.
Asked whether the UAE consulted with Saudi Arabia, he said the UAE did not raise the issue with any other country.
