Watch: Why has the UAE left Opec

The United Arab Emirates (UAE) announced that it is leaving the Organization of Petroleum Exporting Countries, Opec, after nearly 60 years of membership.

OPEC is an organization made up primarily of Gulf oil exporters that controls oil production and has a significant influence on global prices.

BAE’s sudden departure is seen as a blow to the group and their departure could affect you and your pocket too.