How the UAE’s decision to leave Opec could recast the Middle East - The Guardian
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The UAE's decision is the beginning of the end of Opec - Matt Gibson.
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Timing is everything – and the UAE has seized its chance.
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Its decision to quit Opec could leave it free to produce another 1.5 million barrels of oil a day, making the most of a fuel-starved market.It's a bold move, and, analysts say, it throws the UK's apparent paralysis over the North Sea into sharp relief.
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While the UAE gets to work on its new domestic oil strategy, work has ceased at Rosebank, an oil field, and Jackdaw, a gas field, pending legal challenges on climate grounds.
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TRENDING Stories Videos Your Say "It remains frustrating that while countries like the UAE are taking advantage of the oil crisis to grow their economy, the UK Government is still dithering over whether to approve two fields," says Andy Mayer, energy analyst at the Institute of Economic Affairs.
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The United Arab Emirates' decision to leave OPEC has rocked the region, underscoring how the country, at odds with Saudi Arabia, is increasingly charting its own course.
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Will Venezuela be next out the door?
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The Globe and MailUAE Says It Will Leave OPEC as Iran War Strains Oil Markets
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Summary
**Summary:** The United Arab Emirates (UAE) is set to exit the Organization of Petroleum Exporting Countries (OPEC), marking a significant shift that could reshape global oil markets and potentially weaken OPEC's influence. **Why It Matters:** This decision underscores regional tensions, with the UAE distancing itself from Saudi Arabia amid
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