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U.S. President Donald Trump has welcomed the United Arab Emirates’ decision to withdraw from OPEC. Speaking at a press conference, Trump said, “I think it is a very good decision. Mohamed bin Zayed Al Nahyan is very smart and may have wanted to pursue his own path.” Trump added that he believes the move could ultimately contribute to lowering the prices of gasoline, oil, and other commodities. The UAE announced last week that it will exit OPEC and OPEC+ starting this Friday. Experts do not consider the decision entirely unexpected, noting that the UAE’s oil production capacity exceeds the quotas assigned by OPEC. Trump also suggested that the move could create challenges for the organization.
