UAE Oil Head Says OPEC Exit Gives Ability to Speed Up Investment

The United Arab Emirates’ surprise exit from OPEC gives it greater ability to accelerate investment and expand, the head of the country’s state-run oil company said.

“It serves our national interests and long-term strategic objectives, aligns with our industrial, economic, and developmental ambitions, and gives us greater ability to accelerate investment, expand, and create value,” Sultan Al Jaber, chief executive officer of Abu Dhabi National Oil Co. said in a speech.