UAE’s exit from OPEC seen increasing oil supplies for Japan, China
Energy
Eyes on whether Kazakhstan will make similar move and deal another blow to cartel
OPEC will lose the United Arab Emirates, one of its biggest producers, from May 1. © Reuters
LONDON — Asian countries such as Japan and China are expected to benefit from increased oil supplies following the UAE’s decision to quit OPEC, but the departure of the group’s third-largest producer risks introducing greater price volatility over the longer term, analysts say.
