UAE plans to leave OPEC, dealing a blow to the oil cartel

The UAE has had increasingly frosty relations with Saudi Arabia.

This is a locator map for United Arab Emirates with its capital, Abu Dhabi. [Photo: AP Photo]

The United Arab Emirates said Tuesday it will leave OPEC effective May 1, stripping the oil cartel of one of its largest producers and further weakening its leverage over global oil supplies and prices.

The UAE’s decision had been rumored as a possibility for some time, as it pushed back in recent years........

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