The United Arab Emirates (UAE) has announced it is quitting Opec, the Organisation of Petroleum Exporting Countries, after nearly 60 years of membership.
Opec is an organisation of mainly Gulf oil exporters, which oversees oil production and has a major influence on the global prices.
The UAE’s abrupt departure is seen as a blow to the group – and their exit could also affect you and your pocket.
Source:
www.bbc.com
