U.S. President Donald Trump on Wednesday said he thinks it is “great” the United Arab Emirates is withdrawing from the Organization of the Petroleum Exporting Countries.
"I think it's great," Trump said when asked by reporters at the White House what he thought of the UAE's decision.
The UAE - one of the group's biggest producers - said on Tuesday it was quitting OPEC, dealing a blow to the group as an unprecedented energy crisis caused by the Iran war exposes discord among Gulf nations.
"I think ultimately it's a good thing for getting the price of gas down, getting oil down, getting everything down," Trump said. "They're having some problems in OPEC."
The UAE announced Tuesday that it would leave OPEC and the wider OPEC+, marking one of the most significant ruptures inside the oil producer group in years.
The decision comes as global energy markets face severe disruption from the U.S.-Israeli war against Iran, driving crude prices sharply higher and intensifying concerns about the security of supply from the Gulf.
The UAE has been a member of OPEC since 1967.
