"The United Arab Emirates said on Tuesday it quit OPEC and OPEC+, dealing a heavy blow to the oil exporting groups at a time when the Iran war has caused a historic energy shock and unsettled the global economy."
"Anwar Gargash, the diplomatic adviser for the UAE president, criticised the Arab and Gulf response to the Iranian attacks in a session at the Gulf Influencers Forum on Monday."
"The Gulf Cooperation Council countries supported each other logistically, but politically and militarily, I think their position has been the weakest historically."
The United Arab Emirates has announced its departure from OPEC and OPEC+, significantly affecting the oil exporting groups during a time of global energy instability due to the Iran war. Gulf producers face challenges in exporting oil through the Strait of Hormuz due to Iranian threats. US President Trump has criticized OPEC for high oil prices and linked US military support to oil pricing. The UAE's exit follows its criticism of Arab states for inadequate protection against Iranian attacks, highlighting a perceived weakness in regional political and military support.
Read at www.aljazeera.com
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