UAE Has Internal Debate About Leaving OPEC ...Middle East

OILPRICE - Economy
UAE Has Internal Debate About Leaving OPEC
source : OILPRICE ( Middle East ) () 58
The United Arab Emirates is having an internal debate about the prospect of leaving OPEC, Emirati officials are telling the Wall Street Journal. The decision of the UAE to leave the oil-based group that accounts for nearly 38% of the world’s total crude oil production would diminish the group’s oil price-setting powers. The uncertainty regarding the UAE’s participation in the Organization of Petroleum Exporting Countries comes as the rift between UAE and OPEC’s de facto leader Saudi Arabia appears to be widening over the…

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