🇿🇦 opec

OPEC, the Organization of the Petroleum Exporting Countries, is an intergovernmental organization of oil-exporting nations that coordinates petroleum policies. It is currently trending because the United Arab Emirates (UAE), a major oil exporter, has announced its decision to withdraw from both OPEC and OPEC+. This significant departure is seen as a blow to the cartel and could have implications for the global energy sector. OPEC plays a crucial role in influencing global oil prices and supply through coordinated production policies among its member states.