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TechFlow News: On April 28, according to JINSHI Data, the United Arab Emirates (UAE) officially announced its withdrawal from OPEC and OPEC+ effective May 1, and plans to gradually increase its oil production. Following the announcement, U.S. and Brent crude oil prices plunged over $2 in the short term before partially rebounding; the latest prices stand at $101.38 and $104.18 per barrel, respectively.
According to JIN10 Data, the UAE officially issued a statement announcing its withdrawal from OPEC and OPEC+ effective May 1, and plans to gradually increase its oil production. Both WTI and Brent crude oil prices plunged over $2 in the short term before partially recovering; the latest prices stand at $101.38 and $104.18 per barrel, respectively.
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