United Arab Emirates announces withdrawal from OPEC and OPEC+.

You United Arab Emirates announced, this Tuesday (28), the departure from Organization of the Petroleum Exporting Countries (OPEC) and the expanded alliance OPEC+, amidst a scenario of geopolitical instability in the Middle EastThe country had been a member of the cartel since 1967. According to authorities in the country, the decision was made after a strategic review of national energy policies and it was not coordinated with other members of the group – such as the Saudi Arabia, main leadership of the cartelIn addition to regional tensions, The country sought to expand its oil production. without the restrictions imposed by quotas OPEC+Analysts believe that the departure could increase the commodity price volatility This represents a severe blow to the organization, which is already struggling to maintain internal cohesion. Middle EastThe movement also reflects the strain in relations with neighboring countries during recent conflicts with… IranEmirati authorities stated that their interests were not adequately protected by their regional allies in the face of threats and attacks from the Persian country.

This text was translated by machine from Brazilian Portuguese.