The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen outside of OPEC’s headquarters in Vienna, Austria, March 3, 2022. Lisa Leutner/AP PhotoThe United Arab Emirates (UAE) has walked away from OPEC, removing one of the Gulf’s most important producers from a quota system dominated by countries in the Arabian Peninsula, especially Saudi Arabia.The UAE announced on April 28 that it would exit OPEC and the wider OPEC+ alliance, effective May 1.
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