U.S. President Donald Trump has welcomed the United Arab Emirates' decision to withdraw from OPEC, suggesting it could help reduce oil prices amid a deepening energy crisis linked to the Iran conflict.
Trump's Reaction to UAE's OPEC Exit
Speaking to reporters at the White House on Wednesday, Trump said, "I think it's great. I think ultimately it's a good thing for getting the price of gas down, getting oil down, getting everything down." He added that OPEC is "having some problems."
UAE's Departure and Its Implications
The UAE, one of OPEC's largest producers, announced on Tuesday that it would leave the organization, dealing a significant blow to the group. The move comes as an unprecedented energy crisis, triggered by the Iran war, has exposed deep discord among Gulf nations. OPEC accounts for roughly 40% of global oil output, but its market influence has waned in recent years as the United States has sharply increased its own production.
The UAE's exit after six decades of membership highlights growing volatility in the Middle East energy market. The decision is seen as a response to the shifting dynamics and the strain of the ongoing conflict.
