The expert reported on the prospects for world oil prices after the UAE's withdrawal from OPEC

The withdrawal of the United Arab Emirates (UAE) from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance in the long term may lead to a decrease in the organization's influence on world oil prices. This is stated in a statement by Jorge Leon, head of the geopolitical analysis department at the consulting company Rystad Energy.

"The strength of OPEC and OPEC+ has always depended only on the willingness of the members of the association to keep oil supplies to the market, including from the UAE. The loss of a member state of the organization with a production capacity of 4.8 million barrels per day and a desire to increase production deprives the group of an effective tool," TASS quoted him as saying.

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