UAE quits OPEC, likely in a protest over the war.
UAE quits OPEC, likely in a protest over the war. They will be leaving May 1.
Oil fell on this on what’s assuredly an algo-driven move. It’s quickly reversed. For oil prices for now it’s meaningless, as OPEC will be pumping at full-bore for a long time after the war to rebuild inventories.
This article was written by Adam Button at investinglive.com.