“The decision by the UAE, which they have a sovereign right to do, is for their country’s interest. Our opinion is that it’s going to cause a dislocation of that equilibrium, the ability of OPEC and OPEC+, to manage the price of oil"

Nigeria should target new crude buyers after the UAE quit OPEC, says PETAN chairman Wole Ogunsanya, warning the exit threatens the cartel's price management.

“The decision by the UAE, which they have a sovereign right to do, is for their country’s interest. Our opinion is that it’s going to cause a dislocation of that equilibrium, the…