UAE Leaving OPEC at Right Time, Energy Minister Says

Bloomberg Bloomberg —

The United Arab Emirates is leaving OPEC on May 1, dealing a blow to the group and its leader Saudi Arabia.

UAE Energy Minister Suhail Al Mazrouei tells Bloomberg's Joumanna Bercetche that the timing is right because of the war in Iran.

Bercetche spoke to him on the phone and she reports on "Bloomberg Open Interest." (Source: Bloomberg)

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UAE to exit OPEC cartel