Wednesday, April 29, 2026
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Context

The UAE is leaving OPEC while Gulf oil markets are already under strain.

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According to The New York Times (Apr. 28), Abu Dhabi plans to leave the cartel effective May 1, giving itself more room to set output while the Iran war keeps Gulf energy markets tight. Reuters reported the split as a direct break from quota discipline, a development that hits crude pricing and Saudi leverage at the same time.

Smart Take

The UAE is leaving OPEC while Gulf oil markets are already under strain.

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The smart take: Cartel authority matters as much as the price move. Saudi-led coordination now looks optional for one of the club's richest members, and once discipline becomes elective, everyone starts gaming the exits.
Read Full Article on Reuters