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Energy Earthquake: UAE Ditches OPEC After 60 Years
World News

Energy Earthquake: UAE Ditches OPEC After 60 Years

1 hour ago•BBC via AI

The United Arab Emirates has sent shockwaves through global energy markets with its decision to leave OPEC, ending a nearly 60-year relationship with the oil cartel. Industry analysts are calling the move a potential death knell for OPEC, as the UAE's departure could trigger a domino effect among other member nations seeking more autonomy in their energy policies.

This historic shift comes as the oil-rich Gulf nation increasingly diversifies its economy and focuses on renewable energy sources. The UAE has been aggressively expanding its oil production capacity independently, creating friction with OPEC's output restrictions. Energy experts warn that without one of its key members, OPEC's ability to control global oil prices and supply could be severely compromised, potentially reshaping the geopolitical landscape of energy for decades to come.