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United Arab Emirates to Exit OPEC on May 1
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After facing weeks of missile and drone attacks from fellow OPEC member Iran, the United Arab Emirates announced on Tuesday that it will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) on May 1. Meanwhile, Irans blockade of the Strait of Hormuz has severely constrained the United Arab Emirates ability to export oil, threatening the foundation of its economy. The United Arab Emirates joined OPEC in 1967 and was the third-largest oil producer in the group in February, behind only Saudi Arabia and Iraq. (to/s) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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