Big win for Donald Trump, who has accused organisation of ‘ripping off the rest of the world’ by inflating oil prices

The United Arab Emirates announced on Tuesday its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance, in a decision taking…

“This is a policy decision, it has been done after a careful look at current and future policies related to level of production,” energy minister says.

UAE's exit from OPEC and OPEC+ shakes global oil markets amid rising tensions and Iranian threats during the ongoing war.

This is a developing story.

The UAE says it is leaving the Opec and Opec+ groups of major oil producing nations.

Big win for Donald Trump, who has accused organisation of ‘ripping off the rest of the world’ by inflating oil prices

The UAE was the third-largest producer in OPEC in February, behind Saudi Arabia and Iraq.

It's a win for Trump, who once accused the organisation of "ripping off the rest of the world" by inflating oil prices.

Abu Dhabi, long at odds over quotas, says exit will free output as experts point to Saudi rift and push to boost production.

According to the Emirates state news agency, the UAE's decision to exit OPEC and OPEC+ "reflects the UAE’s long-term strategic and economic vision and evolving energy profile"

Gli Emirati Arabi Uniti escono dall'Opec, una vittoria per Donald Trump, mentre il cartello petrolifero si indebolisce. Il presidente degli Stati ...

The UAE has been an OPEC member through the emirate of Abu Dhabi since 1967, four years before the former British protectorate became a country.

It will have little effect on the current oil blockades, but it could change everything afterwards.

The Gulf state is the latest to quit the group, which was created to form a united front on oil pricing.

The UAE wants to ramp up production without constraints from OPEC, which could prove bearish for prices at some point.

Defection is damaging to Saudi Arabia’s prestige – and could strengthen the US hand in the region

By leaving Opec amid the blockade of Hormuz, the UAE is positioning itself to be a long-term disruptor to Saudi-led energy bloc

The UAE is among the largest oil producers in the world.

The United Arab Emirates' decision to leave OPEC is reverberating across global energy markets, sparking questions on who else could follow.

Learn more about the implications of the UAE's exit from OPEC+, its impact on global oil production, and the alliance's key members.