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UAE leaves Opec and Opec+ in huge blow to global oil producers’ group

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A view shows the logo of the Organization of the Petroleum Exporting Countries outside its headquarters in Vienna, Austria, May 28, 2024.— Reuters Gulf states struggle to ship exports via Hormuz.UAE exit represents a big win for the US.UAE criticises Arab states for not doing…

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Pakistan plans to open new gateway for foreign oil suppliers

A view of the Russian oil cargo Pure Point, carrying crude oil, is seen anchored at the port in Karachi, June 11, 2023. — ReutersProposed policy allows foreign firms to store fuel locally.Suppliers can sell domestically or re-export petroleum stocks.Proposal aims to boost energy…