Pakistan, May 22 -- A senior adviser to the UAE president has said the country's decision to leave OPEC was considered over a three-year period. He said the move reflects the UAE's belief that the world is entering the "autumn of the hydrocarbon age." The comments come after the UAE formally ended its nearly 60-year membership in the group.

Anwar Gargash said the UAE aims to maximise oil revenues while global demand remains strong. He added that OPEC production quotas had limited the country's output despite its higher capacity. The UAE's production capacity stands at around 4.85 million barrels per day.

Read more: UAE denies politics behind OPEC withdrawal

He said the decision allows the UAE to better use its production potential and ...