UAE Quits OPEC Just as War on Iran Throws Markets Into Turmoil - Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 By continuing, I agree to the Privacy Policy and Terms of Service. The United Arab Emirates will leave OPEC after six decades of membership, dealing a significant blow to the group just as the supply disruption caused by the Iran war roils oil markets. The UAE was the Organization of the Petroleum Exporting Countries’ third-biggest producer before the conflict started, accounting for about 12% of its overall supply. Longstanding tensions with Saudi Arabia led the UAE to talk in the past about quitting the group. But now, Energy Minister Suhail Al Mazrouei told us the war’s disruptive impact means its a good time to chart its own path in energy markets. The UAE’s decision to quit OPEC will likely have limited impact in the s

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