United Arab Emirates QUITS OPEC ! ! !
The United Arab Emirates has announced it is quitting the Organization of Petroleum Exporting Countries (OPEC), effective May 1.
The ongoing Iran conflict is now rupturing OPEC. Oil-producing countries in the Persian Gulf region realize they must dramatically increase production once the war is over, to make-up for lost revenues and pay for damaged facilities. They don't want OPEC limiting that production.
Saudi Arabia is openly furious about this decision. The Saudis are now publicly saying "The UAE’s decision is regrettable and irresponsible, and will lead to Saudi Arabia reviewing its own oil policies"
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