However the\u00a0UAE\u00a0exit from OPEC represents a win for U.S. President Donald Trump, who has accused the organization of \u201cripping off the remainder of the world\u201d by inflating oil prices.<\/p>\n
Trump has also linked U.S. military support for the Gulf with oil prices, saying that while the U.S. defends OPEC members they \u201cexploit this by imposing high oil prices.\u201d<\/p>\n
The move got here after the\u00a0UAE, a regional business hub and one among Washington\u2019s most significant allies, criticized fellow Arab states for not doing enough to guard it from quite a few Iranian attacks through the war.<\/p>\n
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Anwar Gargash, the diplomatic adviser for the\u00a0UAE\u00a0president, criticized the Arab and Gulf response to the Iranian attacks in a session on the Gulf Influencers Forum on Monday.<\/p>\n
\u201cThe Gulf Cooperation Council countries supported one another logistically, but politically and militarily, I feel their position has been the weakest historically,\u201d Gargash said.<\/p>\n
\u201cI expect this weak stance from the Arab League and I’m not surprised by it, but I haven\u2019t expected it from the (Gulf) Cooperation Council and I’m surprised by it,\u201d he said.<\/p>\n<\/p><\/div>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The United Arab Emirates said on Tuesday it was quitting OPEC and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when\u00a0the Iran war\u00a0has caused a historic energy shock and unsettled the worldwide economy. The lack of the\u00a0UAE, a longstanding OPEC member, could create […]<\/p>\n","protected":false},"author":1,"featured_media":326000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20691],"tags":[1886,12205,35584,1988,1903,2667,35049,21282,11941],"class_list":["post-325999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-crisis","tag-drags","tag-hormuz","tag-leaves","tag-national","tag-oil","tag-opec","tag-strait","tag-uae"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/325999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=325999"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/325999\/revisions"}],"predecessor-version":[{"id":326002,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/325999\/revisions\/326002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/326000"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=325999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=325999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=325999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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