The United Arab Emirates (UAE) has announced its departure from the oil cartel Opec and the wider Opec+ group, a move that could significantly impact the global oil market.

• The UAE, a member since 1967, will leave Opec with 11 remaining members.
• The decision is attributed to the UAE's "long-term strategic and economic vision and evolving energy profile".
• Analysts, like Saul Kavonic, head of energy research at MST Financial, describe the exit as "the beginning of the end of Opec".