Marc Filippino

The United Arab Emirates is calling it quits on OPEC.

The UAE said on Tuesday it'll leave the oil cartel after almost 60 years of membership.

The decision underlines long-running frustrations over production and simmering geopolitical tensions.

So what does this mean for the future of the UAE and the future of OPEC?

Andrew England is the FT's Middle East editor.

He joins me now to discuss.

Hi, Andrew.

Hi.

So how big of a deal is this?

Yeah, tell me a little bit more about what the exit might mean for OPEC.

Is it right to say that maybe OPEC needed the UAE more than the UAE needed OPEC?

I guess, where does the UAE go from here?

The OEA has not been the only one who's been upset with the way that OPEC has been run regarding production curbs.

Do you think that them leaving will set off a chain reaction causing other countries to leave the group?

Andrew England is the FT's Middle East editor.

Thanks, Andrew.

Thanks.

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