Sep 21, 2026 · 14 min · 9 segments
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Earlier this week on the 27th of April the United Arab Emirates officially announced that it would be leaving the Organization of Petroleum Exporting Countries, a group that was the most powerful oil pricing cartel in the world.
Or at least that was the story.
Although how it holds up does need to be addressed.
The UAE had up until Tuesday been a member for over 60 years and was one of the organization's first members outside of the original founding five, not to mention the fourth largest producer of oil accounting for around 12% of the group's total production.
To put it mildly, this is a major and very public blow to a group that has already been losing influence and relevance for some time now.
Today, the USA alone produces half as much as their collective output, so this additional departure from their control means a lot more than just a bad headline.
Understanding these simple market dynamics reveals that every barrel that is produced outside of this cartel hurts more than the last, which means that as their share of global supply...
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Earlier this week on the 27th of April the United Arab Emirates officially announced that it would be leaving the Organization of Petroleum Exporting Countries, a group that was the most powerful oil pricing cartel in the world.
Or at least that was the story.
Although how it holds up does need to be addressed.
The UAE had up until Tuesday been a member for over 60 years and was one of the organization's first members outside of the original founding five, not to mention the fourth largest producer of oil accounting for around 12% of the group's total production.
To put it mildly, this is a major and very public blow to a group that has already been losing influence and relevance for some time now.
Today, the USA alone produces half as much as their collective output, so this additional departure from their control means a lot more than just a bad headline.
Understanding these simple market dynamics reveals that every barrel that is produced outside of this cartel hurts more than the last, which means that as their share of global supply...
