UAE leaving OPEC and OPEC+ | How will it affect energy markets?

The United Arab Emirates is leaving the OPEC and OPEC+ alliances of oil-producing nations.

The Gulf state says the move was motivated by its own national interests, and would actually help meet growing global energy demand in the long term, when it boosts its production capacity.

The UAE has been a member of the group for over half a century, having joined in 1967. Abu Dhabi is one of the world's leading oil producers, with an output of more than 4 million barrels per day. The exit decision could cause further disruption to energy markets, as Gulf states face major shipping challenges amid Iran's retaliatory actions in the Strait of Hormuz.

To discuss this, we speak with Mohammad Al-Sabban, former senior adviser to the Saudi energy minister.