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Posted on 04/28/2026 5:52:39 AM PDT by TexasGunLover
The United Arab Emirates announced Tuesday that it will exit OPEC on May 1.
“This decision follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on our national interest and our commitment to contributing effectively to meeting the market’s pressing needs,” the UAE energy ministry said in a statement.
(Excerpt) Read more at cnbc.com ...
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Well, that’s kind of a big deal!! Did Trump work something out with them? Is he starting a new oil gang? I can hear the azzholes in Russia, China, North Korea, the EU, and Iran puckering from North Carolina!!
Unless they start pricing their oil in yuan.
So I guess this is MUGA? Not the best acronym for English.
My grandfather used to keep a small bit of money for the MUGA in his back pocket.
Wasn’t the UAE the only Arab oil country to actually take action against Iran a couple of weeks ago?
That would suck...
In other words...we’re now making our own rules and if we want to pump more...we will.
I just did a few seconds of looking at this. I guess the UAE currency is pegged to the dollar, so a pricing change is not likely.
This is more about controlling production. Once the peace comes in that area it would seem the Cartel might be losing their control over production quotas. This would be good for the global price of oil. If the cartel falls apart, then more control comes to the US.
Saddam invaded Kuwait because the country pumped too much. Looks like the rest will feel safe enough to do the same and make up for Iran’s shortcomings while the Chicoms are forced to pay full price.
The left still wants Trump dead. I can’t see Marco or JD doing these things.
Is this that 4D chess? open venezuela, end cuban imports, shut down iran til its friendly, bust up opec, force california, get world to buy from Houston while straits are closed, new york pipeline, alberta thinking hard about it, europe scared, indonesia friendly and china screwed. Hot garbage about the 60 day thing, printed and touted by those that want to prevent the above.
so much winning. (no plan....pshaw...cant think of last time there has been such strategic planning implemented)
Oil is toying with $100. And it is Tuesday…
Nice summary.
The OPEC Fund:
Saudi Arabia US$ 1.1bn
Iran US$ 529.4m
Venezuela US$ 481.8m
Kuwait US$ 380.2m
Nigeria US$ 249.8m
Libya US$ 211.0m
United Arab Emirates US$ 174.2m
Iraq US$ 154.8m
Algeria US$ 105.6m
Indonesia US$ 13.1m
Ecuador US$ 7.2m
Gabon US$ 3.8m
These are not the people who should control the world’s economy and production.
EC
Nowhere near as big of a deal as this would have been a couple generations ago now that the US and Alberta are such massive energy producers.
That's how Iran makes ALL their money.
If you're British, you're better off living in Dubai than London.
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