The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen outside of OPEC’s headquarters in Vienna, Austria, March 3, 2022. Lisa Leutner/AP Photo
The United Arab Emirates (UAE) has walked away from OPEC, removing one of the Gulf’s most important producers from a quota system dominated by countries in the Arabian Peninsula, especially Saudi Arabia.
The UAE announced on April 28 that it would exit OPEC and the wider OPEC+ alliance, effective May 1.
