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UAE Quits OPEC: Energy Markets Shaken
Description
The United Arab Emirates is leaving OPEC after 60 years, joining Saudi Arabia in a power struggle, as global energy markets face instability. The UAEs exit, effective Friday, is driven by tensions with Saudi Arabia and a desire to pursue its own energy strategy. Both nations have clashed over Yemen and media hubs in Dubai. The UAE pledges responsible oil production, aiming for steady supply and reliability in global markets. The splits impact on oil prices and regional power dynamics is expected to unfold in the coming months.
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