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The Economic Times

Top News / The Economic Times

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UAE defends OPEC exit; Warns Hormuz must stay open amid West Asia tensions

The UAE has exited OPEC and OPEC+ stating it is a sovereign decision. This comes after an ADNOC tanker was hit by Iranian drones in the Strait of Hormuz. The UAE called it a terrorist attack. Officials emphasized the Strait of Hormuz must remain open for global economic stability.

5 May 2026 12:39 am