The UAE said it quit OPEC and OPEC+, a major blow to the oil-exporting alliance and Saudi Arabia at a time when the Iran war has already triggered a historic energy shock. The development raises the risk of further disruption to oil supply coordination and could add volatility to crude prices and broader global markets.
The UAE said it quit OPEC and OPEC+, a major blow to the oil-exporting alliance and Saudi Arabia at a time when the Iran war has already triggered a historic energy shock. The development raises the risk of further disruption to oil supply coordination and could add volatility to crude prices and broader global markets.
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strongly negative
Sentiment Score
-0.72
