WOW. UAE Leaving OPEC. Could this be...no way.

[Maggie Glover]

I don't know about 5D chess or anything else, but there is no way this is not good for us. They state they think they can pump 5 million barrels a day. If OPEC circles the drain, that will be some major disruption. According to several sources not just LIV but F1, UFC, the Premier League, and several others that have that Saudi money injection have all been told there is a major change coming (back in December by reports.). Now the UAE is cutting bait? Wow, just f'ng wow. MG

https://www.cnbc.com/2026/04/28/uae-opec-oil-iran.html


The United Arab Emirates will exit OPEC on May 1, in a major blow to the cartel that coordinates production among many of the world’s largest oil producers, particularly those in the Middle East.

The shock announcement Tuesday comes after the UAE was the target of missile and drone attacks for weeks by fellow OPEC member Iran. Tehran’s attacks on shipping in the Strait of Hormuz has also severely constrained the UAE’s ability to export oil, threatening the foundation of its economy.

The UAE has played an influential role in OPEC’s decisions over nearly six decades. It was the group’s third-largest oil producer in February behind Saudi Arabia and Iraq. The Gulf state joined OPEC in 1967, seven years after the organization was founded.

The UAE came to the conclusion that exiting the group was in its national interest following a comprehensive review of its production policy and capacity, the Energy Ministry said in a written statement.

Energy Minister Suhail Al Mazrouei subsequently told CNBC that the UAE made the decision to leave OPEC at a time when it would be the least disruptive to the other producers in the group.

“Our exit at this time is the right time for it, because it will have a minimum impact on the price and it will have a minimum impact on our friends at OPEC and OPEC+,” Al Mazrouei said.

[Highstrung]

LIV sucks

[Maggie Glover]

LIV sucks

#hottake it clearly is going away but what about their table legs in all of those other sports? Could the Saudis really be concerned about their assets? If oil were sold without OPEC's influence, it would be like De Beers getting out of the diamond business. Sixty years of the middle east holding the world oil prices hostage might be in play. MG

[Saltydog235]

Can't be a bad thing when a cartel/monopoly that has controlled a global market for a product is busted up and they all start competing for sales of the product. $5.00 gas today, two weeks from now $1.50. It's all a sham anyway.

[JABIII]

No kidding. As much never ending oil as we have in this country, we shouldn't ever see more than .50 cents at the pump.

[Saltydog235]

No kidding. As much never ending oil as we have in this country, we shouldn't ever see more than .50 cents at the pump.

Then work would get in the way of fishing.

Except for LabLuvr, he can't fish.

[LabLuvR]

Then work would get in the way of fishing.

Except for LabLuvr, he can't fish.

You know how to kick a guy in the nuts when he’s down, don’t you? Lmao

[Saltydog235]

You know how to kick a guy in the nuts when he’s down, don’t you? Lmao

Should’ve worn a helmet and pads.

[DRDUCK]

No kidding. As much never ending oil as we have in this country, we shouldn't ever see more than .50 cents at the pump.

This is what pisses me off to no end. We got more oil than anybody and yet gas will be 4 gal before this week is out. Gouging at it's finest!

[nitro5x6's]

$1.00 per gallon is about the fair price.

I barely remember filling my '70 Cuda up with 100 Octane AVGas for .79 cents a gallon a lonnnng time ago. Damn I miss that car.

[mhogancu]

This is what pisses me off to no end. We got more oil than anybody and yet gas will be 4 gal before this week is out. Gouging at it's finest!

Correct, we have oil.

Our inability to refine it quickly, and efficientlyis what’s fucking us in my opinion

[walt4dun]

Correct, we have oil.

Our inability to refine it quickly, and efficientlyis what’s fucking us in my opinion

This is the real national security issue and what the .gov should be pouring money into instead of fighting foreign wars to a standstill for the same.

[GBelly]

This is the real national security issue and what the .gov should be pouring money into instead of fighting foreign wars to a standstill for the same.

They wont do that. They are too busy putting regulations on industries so we can rely on imports from other countries.

[walt4dun]

And don't look now folks but brent just broke thru the last 2022 high. Currently trading north of $119 and climbing... $6 diesel fuel in 2 weeks. You heard it here first.

[DRDUCK]

And don't look now folks but brent just broke thru the last 2022 high. Currently trading north of $119 and climbing... $6 diesel fuel in 2 weeks. You heard it here first.

Want take 2=weeks. They will raise prices again tomorrow. Gouging us as it takes months for that oil to get through the system.

[Maggie Glover]

Capacity may be a problem but this is fact: Since 2016, the U.S. has consistently exported more finished motor gasoline than it imports, with major export destinations including Mexico, Brazil, and other parts of Central and South America.. MG

[tprice]

No kidding. As much never ending oil as we have in this country, we shouldn't ever see more than .50 cents at the pump.

Labor to get it out of the ground and to the pump is more than that regardless of amount of supply


On another note just to let y'all know how smart I am , in my Sr yr Econ course in college I predicted the END of OPEC would happen. Took 40+ yrs but I may be right after all LOL

[JBtflo]

The US oil industry doesn't like oil to drop below a certain threshold or they begin to shut down production, somewhere around $60/barrel. Their breakeven point is way higher than the Saudis. No telling what they will do and how it will affect global oil markets.

[tprice]

The US oil industry doesn't like oil to drop below a certain threshold or they begin to shut down production, somewhere around $60/barrel. Their breakeven point is way higher than the Saudis. No telling what they will do and how it will affect global oil markets.

Yep, it gets much below $50 barrel you may see NIL money dry up in Texas