United Arab Emirates leaving OPEC, effective May 1

    https://www.cnbc.com/2026/04/28/uae-opec-oil-iran.html

    Posted by kex06

    17 Comments

    1. Fuzzy_Cry7119 on

      No idea what to make of this for market direction, but I’m 99% sure it’s related to the swap agreement and we get that announcement ASAP.

    2. Calls. This move is done to introduce more oil into the system, as the UAE won’t be controlled by any quotas. Others will follow, as we know that major oil tankers have rerouted to the Gulf Shores for oil/LNG needs. They need to keep their customers.

    3. NotTakenGreatName on

      I don’t understand all that, I’m happy for them tho, or sorry that happened

    4. They say it allows them to be more flexible in controlling oil production, which could help ease the energy crisis we are facing.

      Why is oil up on this news?

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