UAE leaves OPEC

Mahmoud Ahmadinejad

Mahmoud Ahmadinejad

سپاه پاسداران انقلاب اسلامی
America has made an enemy of another nation


The United ‌Arab Emirates has announced its decision to quit OPEC and OPEC+ to focus on “national interests”, dealing ⁠a heavy ⁠blow to the oil-exporting groups at a time when the US-Israel war on Iran has caused ⁠a historic energy shock and rattled the global economy.

The move, which will take effect on Friday, reflects “the UAE’s long-term strategic and economic vision and evolving energy profile”, a statement carried by state media said on Tuesday.

UAE Energy Minister Suhail Mohamed al-Mazrouei said the decision was taken after a careful look at the regional power’s energy strategies. Asked whether the UAE consulted with OPEC heavyweight Saudi Arabia, he said the UAE did not raise the issue with ‌any other country.

“This is a policy decision. It has been done after a careful look at current and future policies related to level of production,” the minister told the Reuters news agency.

The UAE had been a member of OPEC first through its emirate of Abu Dhabi in 1967 and later when it became its own country in 1971.

Additionally, the UAE and Saudi Arabia have increasingly competed over economic issues and regional politics, particularly in the Red Sea area.
 
Listening to my grapevine for what this is all about.....nothing yet. Obviously my first guess is that the UAE's back is against the wall and it is submitting to Demonic Empire demands to leave OPEC in the effort to weaken OPEC.
 
Mahmoud Ahmadinejad said:
America has made an enemy of another nation


The United ‌Arab Emirates has announced its decision to quit OPEC and OPEC+ to focus on “national interests”, dealing ⁠a heavy ⁠blow to the oil-exporting groups at a time when the US-Israel war on Iran has caused ⁠a historic energy shock and rattled the global economy.

The move, which will take effect on Friday, reflects “the UAE’s long-term strategic and economic vision and evolving energy profile”, a statement carried by state media said on Tuesday.

UAE Energy Minister Suhail Mohamed al-Mazrouei said the decision was taken after a careful look at the regional power’s energy strategies. Asked whether the UAE consulted with OPEC heavyweight Saudi Arabia, he said the UAE did not raise the issue with ‌any other country.

“This is a policy decision. It has been done after a careful look at current and future policies related to level of production,” the minister told the Reuters news agency.

The UAE had been a member of OPEC first through its emirate of Abu Dhabi in 1967 and later when it became its own country in 1971.

Additionally, the UAE and Saudi Arabia have increasingly competed over economic issues and regional politics, particularly in the Red Sea area.
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You're really quite stupid, Baghdad Bob.

Iran made an enemy of the UAE - which is why they left OPEC. This is a blow to you terrorist vermin.
 
Hawkeye10 said:
Listening to my grapevine for what this is all about.....nothing yet. Obviously my first guess is that the UAE's back is against the wall and it is submitting to Demonic Empire demands to leave OPEC in the effort to weaken OPEC.
Click to expand...

As a CCP troll, you post mostly absurdity. I agree that Iran, and all of Islam, is "demonic," but to call them an "empire" is laughable. Your country is an empire, ruled by Emperor Xi. Iran is a second rate theocratic dictatorship that is crumbling to dust.
 
Uncensored2008 said:
As a CCP troll, you post mostly absurdity. I agree that Iran, and all of Islam, is "demonic," but to call them an "empire" is laughable. Your country is an empire, ruled by Emperor Xi. Iran is a second rate theocratic dictatorship that is crumbling to dust.
Click to expand...
The Demonic Empire is lead by America....as you surely know....you are not as dumb as you pretend.
 
The decision was shocking. But the announcement April 28 that the United Arab Emirates was leaving OPEC caps years of tension where the desert state chafed under the cartel’s quotas, and recently, encountered severe strain in its relationship with Saudi Arabia, the group’s most potent force by far.

Though it had felt strains before, it was the American-Israeli war on Iran that pushed the UAE over the edge.

“The war suddenly made job one for the UAE: ‘Take the money and run,’” says Steve H. Hanke, professor of applied economics at Johns Hopkins University.

“First, OPEC stood partially in the way. Now, the war poses a much bigger danger for a long time to come.”
 
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