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UAE’s decision to exit OPEC could lead to other countries leaving organization — expert

Countries, including Qatar, Ecuador and Angola have left the group in past years, the TV channel noted

NEW YORK, April 29. /TASS/. The United Arab Emirates’ (UAE) decision to exit OPEC could prompt other countries to take a similar step, said Andy Lipow, president of Lipow Oil Associates consultancy.

"The UAE exit is another chapter in the changing membership of the group," CNBC quoted him as saying. "If countries that are abiding by their quota get disgusted with those that don’t, we could see additional exits that could eventually make OPEC irrelevant as a cartel," he said.

Countries, including Qatar, Ecuador and Angola have left the group in past years, the TV channel noted. "While the UAE has left OPEC, they were not the first and may not be the last," Lipow added.

Earlier, the Emirati state news agency WAM reported that the UAE had decided to withdraw from OPEC and OPEC+ effective May 1, 2026. The country assured though that it shares the desire to stabilize the global fuel market. Its oil production policy will take into account global supply and demand, according to the WAM publication.

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