The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.

DUBAI, United Arab Emirates (AP) — The United Arab Emirates said Tuesday it will leave OPEC effective May 1, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices.

DOHA, Qatar — Among senior U.S. officials, the wealthy Gulf nation of the United Arab Emirates is known by an affectionate nickname: Little Sparta

The Gulf government has long complained about the group’s quotas, which officials believe unfairly limited its exports. Its departure is expected to weaken OPEC’s influence.

The Trump administration seems unlikely to accept Iran’s offer to end the war and its chokehold on the Strait of Hormuz. The proposal delivered by Pakistan calls for the U.S. to lift its blockade

The United Arab Emirates’ decision to leave OPEC has rocked the region, underscoring how the country, at odds with Saudi Arabia, is increasingly charting its own course.

The United Arab Emirates on Tuesday announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+), effective 1