UAE exits OPEC after 60 years, exposing the cartel's structural weakness as geopolitical tensions and quota disputes reshape global oil markets.
UAE exits OPEC after 60 years, removing key swing capacity. Analysis of cartel's structural decline and market implications.
UAE leaves OPEC ending 60-year membership, removing 15% spare capacity. Move signals cartel fracture amid Iran conflict and US-backed currency swaps.
Oil prices rise as markets dismiss Iran's Strait of Hormuz blockade proposal. Traders skeptical of Tehran's commitment to restore critical waterway.