UAE leaves OPEC and OPEC+

The United Arab Emirates announced on Tuesday its withdrawal from OPEC and OPEC+, marking a significant blow to these organizations amid a historic energy shock caused by the Iran war. Gulf producers are already struggling to ship exports through the Strait of Hormuz due to Iranian threats. Anwar Gargash, the UAE president's diplomatic adviser, criticized Arab states for their weak response to Iranian attacks, describing their position as historically weak.