The UAE assessed the impact of withdrawal from OPEC and OPEC+ on the oil market
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Al-Mazroui: withdrawal from OPEC and OPEC+ will have minimal impact on oil prices
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The withdrawal of the United Arab Emirates from OPEC and OPEC+ organizations will have a minimal impact on world oil prices. This was stated on CNBC by the country's Minister of Energy and Infrastructure, Suheil al-Mazroui.
According to him, the decision to withdraw from the associations was made at the most appropriate time. The head of the department explained that there is currently a shortage of raw materials on the world market.
"This will have a minimal impact on [oil] prices and on our friends from OPEC and OPEC+," he said.
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