Trump welcomes UAE's exit from OPEC

US President Donald Trump has welcomed the UAE's decision to exit OPEC (Organisation of the Petroleum Exporting Countries), telling reporters on Wednesday that he thinks the move could help lower oil prices.

"I think it's great," Trump said when asked by reporters at the White House what he thought of the UAE's announcement.

He also commended UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on the decision, adding that he is a "great leader".

The UAE had announced on Tuesday that it would leave the organisation, keeping its national interests and market needs in mind.

"I think ultimately it's a good thing for getting the price of gas down, getting oil down, getting everything down," Trump said. "They're having some problems in OPEC."