Emiratis’ exit from OPEC will boost the flow of oil after the war
UAE’s defection will reduce the oil cartel’s influence over the global energy market and help make up for the billion barrels of oil lost because of the closure of the Strait of Hormuz.
- Oil prices today: Crude jumps nearly 2% as US-Iran talks stall, Hormuz disruptions tighten supply Times Of India —
- Iran offers to reopen the Strait of Hormuz if U.S. drops blockade 📹 CBS News — · 5min
- Iran offers to reopen Strait of Hormuz if US lifts its blockade and the war ends, officials say ABC News —
- UAE leaves OPEC and OPEC+ in major blow to global oil producers' group - Reuters Reuters —
- United Arab Emirates says it will leave OPEC effective May 1 6abc Philadelphia —