Firdaus Hamzah
SINGAPORE: The Organization of the Petroleum Exporting Countries (OPEC) will have one fewer member from Friday (May 1) after the United Arab Emirates (UAE) announced its decision to leave the oil cartel.
The 65-year-old organisation produces about 40 per cent of the world’s crude oil and has long wielded significant influence over global energy prices. The UAE said it plans to continue pursuing its goal of gradually increasing crude production, in line with demand and market conditions.
No comments:
Post a Comment