OPECs

UAE exit signals OPEC’s declining grip on oil markets

Quotable Chris Weafer, the CEO of Micro-Advisory Partners, says the UAE’s OPEC exit frees one million barrels of spare capacity. He warns Kazakhstan and Venezuela may follow, leaving OPEC far less influential on global oil pricing. Published On 30 Apr 202630 Apr 2026 Click here to share on social media share-nodes Share googleAdd Al Jazeera…

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Loss of Emirates Further Weakens OPEC’s Influence

The Editorial Team3 months ago05 mins

OPEC will be less powerful without one of its leading members, the United Arab Emirates. The question is: How much? The emergence of the United States as the world’s largest oil producer has diminished the grip that the Organization of the Petroleum Exporting Countries had over the global market, as has the departure of several…

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UAE exit signals OPEC’s declining grip on oil markets

Loss of Emirates Further Weakens OPEC’s Influence