UAE Leaves OPEC: What the Historic Exit Means for Oil Prices, the Iran War, and the Global Economy
The UAE announced its departure from OPEC after nearly 60 years, effective May 1, as the Iran war chokes off Strait of Hormuz shipping routes. U.S. crude surpassed $100 per barrel on the news, with analysts projecting Brent could hit $150. The cartel’s ability to manage global oil supply just took its biggest blow in decades.


















