Heavy blow for oil exporting groups! UAE to exit OPEC, OPEC+ amid Strait of Hormuz disruptions: What it means

Collectively, OPEC nations account for roughly 36 per cent of global oil output. (AI image) In a significant move which may have implications for the world oil market, the United Arab Emirates (UAE) has announced that it will pull out of OPEC and OPEC+ alliances. […]