UAE OPEC Exit Not Cause For Panic Economist Explains

The United Arab Emirates says it will withdraw from OPEC and OPEC+ on May first after more than 50 years in the alliance. The move removes quota limits on the UAE and allows it to increase oil production. The decision could lift global oil output and shift market dynamics. Meanwhile, South Africa has extended its fuel levy reduction to June to ease pressure on motorists. But what impact will the UAE's exit from OPEC and OPEC+ have on South Africa? We spoke to Frank Blackmore, Lead economist at KPMG South Africa.

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