UAE withdraws from Organization of Arab Petroleum Exporting Countries

TUNIS, May 3. /TASS/. The United Arab Emirates (UAE) withdrew from the Organization of Arab Petroleum Exporting Countries (OAPEC) from May 1, the organization said in a statement. OAPEC, a multi-governmental organization headquartered in Kuwait which coordinates energy policies among oil-producing Arab states, thanked the UAE for the role it played during its membership and for its support for joint actions in the oil and gas sector. The UAE’s decision to quit OPEC and OPEC+ came into effect on May 1.