Unbind quotas constraints! After the UAE "withdrew from the group", it accelerated oil investment and splashed out 55 billion US dollars to expand production.
According to the Zhixingtong Finance APP, the Organization of the Petroleum Exporting Countries (OPEC) issued a statement on May 3 confirming that the United Arab Emirates (UAE) has officially exited the organization. The head of the UAE national oil company announced on Monday that this allows the UAE to accelerate investment and expand its business. Sultan Al Jaber, the CEO of the Abu Dhabi National Oil Company (Adnoc), stated in a speech on Monday, "This decision aligns with our national interests and long-term strategic objectives, fits our industrial, economic, and development vision, and gives us greater ability to accelerate investments, expand business, and create value."
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