UAE’s OPEC Exit Shifts Gulf Power Balance, Oil Price Ceiling
The United Arab Emirates’ withdrawal from OPEC, effective immediately, marks the cartel’s most significant defection since Qatar in 2019—but this time the geopolitical and market implications run deeper. With 3.2 million barrels per day of current production capacity and credible plans to reach 5 million bpd by 2027, the UAE isn’t leaving to protest policy. … Read more