“Beginning of the End of OPEC”: UAE Exit Shakes the Global Oil Market

The United Arab Emirates has announced its withdrawal from the OPEC oil producers’ cartel after nearly six decades of membership, a move that is expected to reshape global energy dynamics and weaken the influence of the group led informally by Saudi Arabia. The decision comes amid a period of heightened global energy instability linked to the ongoing Iran war, which has already disrupted oil and gas flows through the Strait of Hormuz. The narrow waterway, a key passage for roughly one-fifth of global crude and LNG shipments, has seen rising security risks and operational constraints due to threats and attacks. ...