President Donald Trump, a longtime critic of the Organization of the Petroleum Exporting Countries (OPEC), who has accused the group of "ripping off the rest of the world,” on Wednesday praised the United Arab Emirates’ plan to leave the alliance by the end of the month and said he thinks it will ultimately lower the price of oil.

US president has accused organisation of ‘ripping off the rest of the world’ by inflating oil prices

The UAE’s departure does more than weaken an oil cartel. It strengthens Washington’s hand in shaping global energy dynamics during a moment of crisis.

Talks between Iran and the United States on ending the war seem stalled, despite U_S_ President Donald Trump earlier claiming Iran had informed his administration that it was in a “State of Collapse.”

Iran warned President Trump's naval blockade was “doomed to fail” as oil prices soared to their highest point in years with the standoff over the Strait of Hormuz wreaking havoc on the global economy.

Iran’s parliament speaker Mohammad Bagher Ghalibaf on Wednesday dismissed claims that US measures to halt Iranian oil sales have caused significant disruption. “Three days in,