WASHINGTON: US President Donald Trump assumes that the United Arab Emirates’ (UAE) decision to leave OPEC and OPEC+ will help lower fuel pr...
WASHINGTON: US President Donald Trump assumes that the United Arab Emirates’ (UAE) decision to leave OPEC and OPEC+ will help lower fuel prices on global markets.
"That's a good thing," he told reporters at the White House, commenting on the UAE’s decision. "I think ultimately it's a good thing for getting the price of gas down, getting oil down, getting everything down," he noted. "They're having some problems in OPEC," the US leader added.
The Emirati state news agency WAM reported on April 28 that the country had decided to withdraw from OPEC and OPEC+ effective May 1 of this year. Meanwhile, the UAE assured that it shares the goal of stabilizing the global fuel market. Oil production policy will take into account global supply and demand, according to the WAM report.
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