The leaving of United Arab Emirates in the OPEC would make the oil prices much lower or higher.
How the UAE now asks to leave the organisation?
Besides, will the leaving of the UAE helping to end the war in the gulf ?
https://en.wikipedia.org/wiki/United_Arab_Emirates
How the UAE's departure from OPEC could impact oil markets
There seems to be little movement on the resumption of talks between the U.S. and Iran. There is also almost no movement through the Strait of Hormuz, the vital bottleneck that's essentially cut off 20% of the world's oil and gas supply. Tuesday, the UAE announced it will leave OPEC, the cartel that has largely controlled oil supplies for decades. Amna Nawaz discussed more with Karen Young.
UAE leaves OPEC in a blow to oil cartel • FRANCE 24 English
The United Arab Emirates has announced it will leave OPEC and OPEC+ on May 1, in a significant blow to the oil cartels. In a statement, the Gulf country said it was doing so to focus on its national interest. The country had often expressed frustration at production quotas set by the group, and its relationship with Saudi Arabia, OPEC's de facto leader, had become increasingly tense.
UAE exit: Why a Gulf oil shift could hit fuel prices everywhere
00:00 UAE leaves OPEC. What just happened? 00:47 Justin Dargin, Middle East Council on Global Affairs 01:59 What is OPEC? 05:50 Is Saudi Arabia’s power at risk? 07:02 What if other OPEC members leave too? 09:01 Is OPEC’s weakening a win for the US? 11:34 Why did the UAE decided to leave OPEC now? 16:06 What happens next in the oil market? 18:31 Is this the beginning of OPEC’s end?
Comments