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EXPLAINED: Uae leaves opec to pursue accelerated production | Vintage Vibes

OPEC UAE Richard Goldberg Oil

The United Arab Emirates said Tuesday it's exiting OPEC after more than 50 years — a blow to the powerful alliance of big oil producers.

Why it matters: The UAE is the group's third-largest producer, and the departure will make it tougher for OPEC to control output and prices.

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