On May 1, the United Arab Emirates will end its a 59-year membership in the oil consortium, allowing it to raise output during one of the most volatile energy markets in years.

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.

Gulf state to leave petroleum cartel from 1 May following regional energy shocks

This is a developing story.