FacebookTwitterEmailLinkedin The United Arab Emirates (UAE) has confirmed its exit from OPEC. Whilst an exit had been mooted before, the timing of the announcement surprised many given the ongoing Middle East war, Gibson commented on its latest tanker market report. With Hormuz effectively closed, and oil production shut in across the region, Abu Dhabi’s announcement will not impact oil markets today. However, in the long term, oil prices, production and tanker demand could all feel the impact. RelatedNews South Korea condemns attack on HMM vessel “in the strongest terms” JMIC: Security remains highly volatile across key regions var jnews_module_21371822_0_6a01e226d3968 = {"header_icon":"","first_title":"Related","second_title":"News","url":"","header_type":"heading_8","header_background":"","header_secondary_background":"","header_text_color":"","header_line_color":"","header_accent_color":"","header_filter_category":"","header_filter_author":"","header_filter_tag":"","header_filter_cpt_post_tag":"","header_filter_cpt_tribe_events_cat":"","header_filter_cpt_web_story_category":"","header_filter_cpt_web_story_tag":"","header_filter_text":"All","sticky_post":false,"sticky_post_filter":false,"post_type":"post","content_type":"all","sponsor":false,"number_post":"2","post_offset":0,"unique_content":"unique1","include_post":"","included_only":false,"exclude_post":"21371822","include_category":"","exclude_category":"","include_author":"","include_tag":"4346,1763,2647,239,1582","exclude_tag":"","exclude_visited_post":false,"post_tag":"","tribe_events_cat":"","web_story_category":"","web_story_tag":"","sort_by":"latest","show_date":"","date_format":"default","date_format_custom":"Y\/m\/d","pagination_mode":"disable","pagination_nextprev_showtext":"","pagination_number_post":"2","pagination_scroll_limit":0,"ads_type":"disable","ads_position":1,"ads_random":"","ads_image":"","ads_image_tablet":"","ads_image_phone":"","ads_image_link":"","ads_image_alt":"","ads_image_new_tab":