Business

UAE exit signals OPEC’s declining grip on oil markets

Al Jazeera English Al Jazeera English April 30, 2026 at 5:50 PM

play Live Sign upShow navigation menuplay Live Click here to searchsearchSign upToggle PlayUAE exit signals OPEC's declining grip on oil markets

Chris Weafer, the CEO of Micro-Advisory Partners, says the UAE’s OPEC exit frees one million barrels of spare capacity. He warns Kazakhstan and Venezuela may follow, leaving OPEC far less influential on global oil pricing.

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UAE exit signals OPEC’s declining grip on oil markets

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