United Arab Emirates to quit oil cartel Opec

The United Arab Emirates is quitting the Opec and Opec+ groups of major oil producing nations after nearly 60 years of membership. The UAE's decision is seen as a blow to the cartel and will give it more flexibility as a country with no obligation under the groups. The UAE's departure represents a win for the US, which has previously attacked Opec for "ripping off the rest of the world".