UAE to leave OPEC
1–10 of 750 posts
Re: UAE to leave OPEC
#2They represent 4.5% of oil production it seems. It will be interesting to see what this means longterm.
Re: UAE to leave OPEC
#3Is this as a function of the Iranian war?
Re: UAE to leave OPEC
#4They represent 4.5% of oil production it seems. It will be interesting to see what this means longterm.
Probably not much unless others follow suite.
Re: UAE to leave OPEC
#5My guess is that is this because UAE has ports on the other side of Hormuz and doesn't want to be restricted in their usage by OPEC? Does this mean UAE thinks Hormuz will be a problem for a long time? And what does it mean for oil prices long term?
Re: UAE to leave OPEC
#6Is this as a function of the Iranian war?
Worst case for the Middle East - OPEC is disolved.
Re: UAE to leave OPEC
#7Is this as a function of the Iranian war?
I think they just want to pump as much as they possibly can to cash out now while they can.
The writing is on the wall for fossil fuels. Even _they_ are doubling down on solar power and switching away from fossil fuel.
https://en.wikipedia.org/wiki/Solar_power_in_the_United_Arab...
Re: UAE to leave OPEC
#8My guess is that is this because UAE has ports on the other side of Hormuz and doesn't want to be restricted in their usage by OPEC? Does this mean UAE thinks Hormuz will be a problem for a long time? And what does it mean for oil prices long term?
That would also explain why UAE is oddly in favor of a war in their region.
Re: UAE to leave OPEC
#9Is there an explainer on this? I'm not familiar with the geopolitics or oil cartels well enough to understand the implications here.
Re: UAE to leave OPEC
#10My guess is that is this because UAE has ports on the other side of Hormuz and doesn't want to be restricted in their usage by OPEC? Does this mean UAE thinks Hormuz will be a problem for a long time? And what does it mean for oil prices long term?
Hormuz will be a problem for a long time. No one needs insider info to know that. The clowns in charge of our side of the war have made zero progress toward a resolution, and I don't know what will change. My fear is that this will continue for months and then the desperate US will start bombing cities.