UAE to Exit OPEC Effective May 1 to Boost Independent Oil Production

The United Arab Emirates announced Tuesday that it will leave the Organization of the Petroleum Exporting Countries effective May 1, ending nearly 60 years of membership in the oil cartel and delivering a significant blow to the organization's influence over global energy markets. The move strips OPEC of one of its largest producers at a critical moment when geopolitical tensions are reshaping energy supply chains worldwide.