00:00Welcome back. Donald Trump has welcomed the UAE's decision to exit OPEC, saying the move could help bring down global
00:07oil prices.
00:08The U.S. president says UAE's withdrawal from the producer group could ease pressure on energy markets, which has surged
00:15due to the Iran conflict.
00:18The United Arab Emirates, the UAE, they pulled out of OPEC. What do you think about that?
00:23I think it's great. I mean, I think it's great. I know him very well, Mohammed, and very smart.
00:30And he probably maybe wants to go his own way. That's a good thing.
00:35I think ultimately it's a good thing for getting the price of gas down, getting oil down, getting everything down.
00:43They have it all. He's a great leader, actually. So, no, I'm OK. They're having some problems in OPEC.
00:51Following its departure, the UAE says it is reassessing its role in multilateral organizations, but has no plans for further
01:00withdrawals at this stage.
01:02Meanwhile, Russia says it will remain in OPEC+, expressing confidence that the alliance will continue to function despite market
01:09turbulence.
01:11Oil prices remain elevated due to continued disruptions linked to the Strait of Hormuz.
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