UAE exit from OPEC signals closer alignment with US interests, experts say

The United Arab Emirates has officially exited the OPEC, a move that experts say will curb the oil-producing cartel's pricing power. The UAE has publicly complained about OPEC quotas, which limit oil production for member countries. With the Strait of Hormuz blocked, the UAE is ready to step in with higher supplies and lower prices, potentially increasing oil production by about 2 million barrels per day