Suhail Al Mazrouei says the United Arab Emirates ‘thanks Opec and its member countries for decades of constructive cooperation’ - Fayez Nureldine/AFP The United Arab Emirates has announced plans to exit the Opec oil cartel. In a setback for Saudi Arabia, the de facto leader of Opec, the UAE will leave the Organisation of the Petroleum Exporting Countries on May 1, having been a member since 1967. As one of the world’s top 10 oil producers, the UAE’s departure will undermine Opec’s ability to control wor ...