The United Arab Emirates announced that it will leave OPEC and OPEC+ on May 1. The Organisation of the Petroleum Exporting Countries (OPEC) is a bloc formed of oil-exporting nations, who coordinate their oil and gas policies as a means of managing the oil market. The UAE's decision to leave OPEC is a major blow as it is currently the third-largest producer behind Saudi Arabia and Iraq. It can produce nearly 4.9 million barrels of oil per day, though its actual output has remained below that

Tag-uri: Petrol