The United Arab Emirates has announced its decision to withdraw from OPEC, effective May 1, marking a significant shift for the oil-producing group. As the cartel's third-largest member, the UAE's departure reduces OPEC's influence over global oil output and pricing. This move follows years of tensions over production quotas that the UAE viewed as restrictive, limiting its ability to maximize oil exports. The announcement underscores growing divergence among member states on strategy and output levels.
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