UAE exit signals OPEC’s declining grip on oil markets
The UAE's decision to exit OPEC is seen as a sign of the organization's weakening influence over global oil markets. Analyst Chris Weafer suggests the move releases one million barrels of spare capacity and could prompt other members like Kazakhstan and Venezuela to follow. This shift may reduce OPEC's ability to control oil pricing effectively.
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Toggle PlayUAE exit signals OPEC's declining grip on oil marketsQuotableUAE exit signals OPEC’s declining grip on oil marketsChris 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 2026SaveClick here to share on social mediashare-nodesSharefacebookxwhatsapp-strokecopylinkgoogleAdd Al Jazeera on Googleinfo
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