U.S. President Donald Trump has praised the United Arab Emirates’ decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC), effective May 1st.
Speaking to reporters in the Oval Office, Trump stated that the decision could help stabilize the oil market, which has been volatile due to the conflict involving Iran.
"I think it’s ultimately a good thing to get gas prices down, to get oil prices down. To get everything down," the U.S. President added.
On Tuesday, the UAE announced its decision to exit both "OPEC" and "OPEC+" starting from the first of next month.
This decision aligns with the UAE's long-term strategic and economic vision and the evolution of its energy sector. It includes accelerating investment in domestic energy production and reinforces the country’s commitment to its role as a responsible and reliable producer, looking ahead to the future of global energy markets.
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