The United Arab Emirates (UAE) announced on Tuesday it will be leaving the Organization of the Petroleum Exporting Countries (OPEC) starting May 1st.

BREAKING: The United Arab Emirates said it quit OPEC and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran war has caused a historic energy shock and unsettled the global economyhttps://t.co/4BUHcdVlh1pic.twitter.com/MvzLTfabuk

The move comes amid skyrocketing global oil prices due to the U.S. and Israel war with Iran, and issues with tankers traveling through the Hormuz Strait.

The UAE said it came to the decision due to its “long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets.”

The exit deals a heavy blow to Saudi Arabia, which leads OPEC and produces roughly 28 million barrels of oil a day.

U.S. President Donald Trump, who has been a longtime critic of OPEC and is friendly with UAE leadership, recently saying the Saudi-led oil group has been exploiting the Iran war by hiking up worldwide oil prices.

Both the UAE and America have also called out other Arab nations for failing to protect their neighbor from Iranian attacks.

Former Trump administration official Richard Goldbergasked, “Between Iran and Russia working to undermine the Gulf Arab states every day, while the U.S. demonstrates historic commitment to their defense, why stay in bed with your adversaries when you can realign with your closest oil producing ally, the United States?”

With the UAE now set to boost oil production, the U.S. could benefit by buying some of their exportable surplus.

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Source: Infowars: There's a War on For Your Mind!