Huge Blow To Global Oil Markets: UAE Exits OPEC, OPEC+ Amid Energy Crunch

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New Delhi: Amid the conflict in Iran and the chokehold over the Strait of Hormuz, the United Arab Emirates has made a major shift in its energy politics by exiting from Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, the two major intergovernmental organizations that coordinate g