The decision by the United Arab Emirates on Tuesday to quit the Organization of the Petroleum Exporting Countries is a sign the cartel is losing its grip on the ability to control the worldwide supply and price of oil.
UAE to leave Opec in blow to oil cartel Financial TimesUnited Arab Emirates Says It Will Leave OPEC in Blow to Oil Cartel The New York TimesThe Latest: United Arab Emirates says it will exit OPEC, while US-Iran negotiations stall Dallas NewsUnited Arab Emirates to leave OPEC May 1, energy chief says still committed to oil price stability CNBC
