economy
In abandoning OPEC for the free market, UAE sees Iran writing on the wall
By the time you’re reading this, the United Arab Emirates, the world’s fourth-largest oil exporter, will have left the Organization of the Petroleum Exporting Countries after nearly 60 years of membership.
TL;DR
- The United Arab Emirates (UAE) is leaving the Organization of the Petroleum Exporting Countries (OPEC).
- The UAE has been a member of OPEC for nearly 60 years.
- This move signifies a shift towards the free market for the UAE, the world's fourth-largest oil exporter.