Current Affairs - International - Discussion
Discussion Forum : International - Latest Current Affairs (Q.No. 2)
2.
Which country announced its withdrawal from the Organisation of the Petroleum Exporting Countries (OPEC) effective May 1, 2026?
Answer: Option
Explanation:
The UAE decided to exit OPEC as part of a strategic shift in its energy policy, aiming to increase its oil production capacity independently. The move allows the country to bypass production quotas imposed by the organisation and align output with its long-term economic goals. This decision comes amid global energy market volatility and regional geopolitical tensions affecting oil supply routes. By investing heavily in oil, gas, and renewable sectors, the country seeks to strengthen its position in global energy markets. The withdrawal also reflects evolving priorities toward flexibility, sustainability, and maximising national economic interests.
Discussion:
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