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CryptoWorld News reports that UAE Energy Minister Suhail Mazrouei stated in an interview with the media that the UAE's decision to withdraw from OPEC at this time was mainly due to factors such as the current restrictions on the Strait of Hormuz. He believes this decision will have limited impact on the global oil market and said that the timing of the UAE's announcement to withdraw is "appropriate" and will not significantly affect oil markets and prices, as the restrictions on the Strait of Hormuz also affect the UAE. This decision helps to ease pressure on prices.