00:00The Organization of the Petroleum Exporting Countries or OPEC Plus and its allies may lose
00:06some influence over the oil market as the United Arab Emirates exits the group on May 1.
00:11But the oil-producing alliance is expected to remain intact and continue coordinating
00:15supply policies. The UAE is the fourth largest producer in OPEC Plus and will quit after nearly
00:2060 years as a member. That will free Abu Dhabi from the oil production targets imposed by OPEC
00:26Plus and its allies to balance supply and demand. Sources say the exit would complicate OPEC
00:31Plus's efforts to balance the market through adjustments to supply because the group would
00:35have control over less of global production.
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