The move comes just days after the Gulf nation broke with OPEC and OPEC+, citing the need to gain more flexibility over oil output
The United Arab Emirates has officially withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), according to a statement posted by the group on X on Sunday.
The exit took effect on May 1 – the same day Abu Dhabi’s withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), and the wider OPEC+ format, which includes Russia, came into force.
The decision came amid ongoing Middle East turmoil triggered by the US-Israeli war on Iran. A dual blockade of the Strait of Hormuz – a…
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