The UAE has announced it will withdraw from Opec after more than five decades. The decision will take effect on May 1. The statement was delivered as Opec prepared to meet in Vienna on Wednesday. It will also leave the broader Opec+. "This decision follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on our national interest and our commitment to contributing effectively to meeting the market’s pressing needs," UAE state news agency Wam said. "While near-term volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz, continues to ... (full story)