New Delhi, April 28 -- The United Arab Emirates announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance on Tuesday, marking a significant shift in its long-term energy strategy.

UAE Energy Minister Suhail Al Mazrouei confirmed the development on X, noting that the decision reflects a policy-driven evolution. The minister stated that the move is aligned with long-term market fundamentals and follows decades of participation in the organization.

"The UAE's decision to exit from OPEC reflects a policy-driven evolution aligned with long-term market fundamentals. We thank OPEC and its member countries for decades of constructive cooperation. We remain committed to energy securi...