Khaberni - The UAE announced today, Tuesday, its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance, thereby striking a strong blow to both groups and to Saudi Arabia, the de facto leader, at a time when the war in Iran has caused a historical shock in the energy sector and disrupted the global economy.
The sudden withdrawal of the UAE, a long-standing member of OPEC, is likely to cause chaos and weaken the organization which has often sought to present a united front despite internal disagreements over a range of issues from geopolitics to production quotas.
