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The Independent UK

Business

Anna Wise

UAE to leave Opec group of oil producers after six decades amid ‘volatility’ from Middle East energy shock

OPEC Oil UAE Iran Iraq Saudi Arabia WAM

The United Arab Emirates has announced its departure from the Opec group of oil producers, concluding six decades of membership.

The decision, effective from May 1, was communicated through the state-run WAM news agency and comes amid an energy supply shock in the Middle East, spurred by the US-Israeli war with Iran.

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