UAE Exit Blindsides OPEC and Threatens to Shake Its Grip on Oil

The shock decision by the United Arab Emirates to quit OPEC blindsided its partners of six decades. Now the cartel will have to fight to stay relevant in a fast-shifting...

By Grant Smith, Anthony Di Paola, Salma El Wardany, Nayla Razzouk, Fiona MacDonald · Bloomberg Markets

The shock decision by the United Arab Emirates to quit OPEC blindsided its partners of six decades. Now the cartel will have to fight to stay relevant in a fast-shifting global oil market.