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UAE says its decision to leave OPEC was a strategic economic move, not a political one
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- The United Arab Emirates' decision to leave OPEC and OPEC+ was based on the country's economic vision and not on politics, the country's energy minister said on Saturday.
- The Emirates announced earlier this month it would depart the producer group OPEC, of which it was a member since 1967, before the UAE was even founded.
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The United Arab Emirates' decision to leave OPEC and OPEC+ was based on the country's economic vision and not on politics, the country's energy minister said on Saturday.
"This decision came following a comprehensive assessment of the national production policy and its future capabilities, and it is based solely on the national interest of the United Arab Emirates, its responsibility as a reliable energy supplier, and its unwavering commitment to maintaining market stability," Suhail Mohamed Al Mazrouei said in a post on X.
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