United Arab Emirates to exit OPEC and OPEC+, following review of energy strategy and plans to expand oil production capacity

The UAE has recently been pushing for higher production allowances within OPEC, aiming for more flexibility to produce closer to its output capacity. If they continue to increase oil production levels, they could have a marginal impact on global supply. However, other factors will tend to have a much larger impact on overall oil prices in the short term. What are your thoughts on how this will affect crude oil prices?

[https://apnews.com/article/opec-united-arab-emirates-leaving-cartel-4966108c3fafacb67181152216deda14](https://apnews.com/article/opec-united-arab-emirates-leaving-cartel-4966108c3fafacb67181152216deda14)