The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major influence over the price of energy around the globe.
Following its exit in May, the UAE said in an announcement Tuesday, it plans to carry on with its long-held goal of increasing crude production "in a gradual and measured manner, aligned with demand and market conditions.”
