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UAE quits OPEC

Al Jazeera·Al Jazeera·about 1 month ago
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UAE quits OPEC

UAE quits OPEC

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The UAE announced it’s withdrawing from OPEC on May 1st. This decision comes as the Gulf nation wants to expand its oil production and as a consequence of the war on Iran which disrupted shipping in the Strait of Hormuz. What does this mean for global oil markets? Al Jazeera’s Marah Rayan explains.

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