Post #76641 by Dope1 on the US Policy board

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Very interesting development:

https://apnews.com/article/opec-united-arab-emirat...

DUBAI, United Arab Emirates (AP) — The United Arab Emirates said Tuesday it will leave OPEC effective May 1, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices.

The UAE’s decision had been rumored as a possibility for some time, as it pushed back in recent years against OPEC production quotas it felt had been too low — meaning it wasn’t able to sell as much oil to the world as it had wanted.

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The interesting thing is, supposedly, the UAE has been barking that it's quota under OPEC has been too low. Normal export volume appears to be about 3Mbpd, but, right now, they can only export through a pipeline to the Gulf of Oman, which they can push about 1.8Mbpd through. So, enjoy your "freedom" guys. It won't do them any good, unless they plan on doing their own arty deal with Iran, for passage of their cargoes, which Trump the Pirate King would then want to interdict, because they did a deal with Iran.

Steve

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