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Commodities

UAE Leans Out of OPEC Control with Investment-Friendly Exit

Guavy AI Editorial Team
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The United Arab Emirates' (UAE) decision to leave OPEC has given it greater flexibility to accelerate investment and expansion, according to Sultan Al Jaber, CEO of Abu Dhabi National Oil Co. (Adnoc).

Al Jaber stated that the UAE's exit from OPEC aligns with its national interests and long-term strategic objectives, allowing for increased investment and value creation.

Adnoc plans to accelerate a growth push with 200 billion dirhams ($55 billion) in oil-project awards as part of an already-announced $150 billion program.

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