UAE pulls out of OPEC oil cartels citing 'national interests'

France 24 France 24 —

The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels to focus on "national interests", it announced on Tuesday, causing fresh shockwaves as energy prices soar over the Middle East war.

The UAE, one of the world's top oil producers, which has previously chafed at OPEC production quotas, will pull out on Friday, a statement carried by the official WAM news agency said.

FRANCE 24's Camille Corcoran reports.

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UAE to exit OPEC cartel