United Arab Emirates to leave OPEC on May 1 in shocking blow to world’s largest oil cartel amid Iran war

ADVERTISEMENT

disrupted by the on-and-off blockade of the Strait of Hormuz, a vital waterway in the Persian Gulf. That has posed a major threat to the nation’s local economy.

Smoke rises from the Fujairah oil industry zone due to drone interception debris.
Smoke rises in the United Arab Emirates after a drone strike was intercepted, according to UAE state media.REUTERS

The UAE joined OPEC in 1967, seven years after the organization was created.continue reading …

Leave a Comment