UAE was the 3rd largest producing country in the world and leaving the alliance means that there could be a shift from once a powerful organization to the one that is being challenge by UAE. UAE is actually not the third largest oil producing country in the world but they (were) the third largest oil producing OPEC country. You're right, there's actually no much benefit from it few years ago two notable countries left the organisation, Qatar and Angola but it wasn't felt the way this current dumping by UAE is now to the organisation. Just imagine how devastating it can be when the third best person in your team leaves. UAE has always played by the organisations books with Saudi Arabia calling the major shots. For me, I think them leaving was partly political and partly betrayal. Betrayal in the sense that they didn't get the much needed protection from the US that claimed they will give it to the region in exchange to keeping the financial status of US afloat. Political in the sense that, UAE built facilities that can accommodate 4.8 plus million barrels a day but the restrictions of OPEC pecked their daily limit to 3.8 million barrels per day, of which if you do the maths on the remaining barrels that sits ideal, UAE were losing almost $55 billion every year, just from that 1 million plus barrels that sits ideal, that's a whole lot of money. Them leaving the OPEC breaks that leash and they can go full capacity when the strait is finally fully opened for all. Oil prices will drop because by then, for the strait to be opened fully means that everything has become normal, Iranian oil will be in the open market, UAE will produce at full capacity which means more oil available in the market as a result of this, there will be crash in price. Basic law of supply.
UAE was the 3rd largest producing country in the world and leaving the alliance means that there could be a shift from once a powerful organization to the one that is being challenge by UAE. UAE is actually not the third largest oil producing country in the world but they (were) the third largest oil producing OPEC country. You're right, there's actually no much benefit from it few years ago two notable countries left the organisation, Qatar and Angola but it wasn't felt the way this current dumping by UAE is now to the organisation. Just imagine how devastating it can be when the third best person in your team leaves. UAE has always played by the organisations books with Saudi Arabia calling the major shots. For me, I think them leaving was partly political and partly betrayal. Betrayal in the sense that they didn't get the much needed protection from the US that claimed they will give it to the region in exchange to keeping the financial status of US afloat. Political in the sense that, UAE built facilities that can accommodate 4.8 plus million barrels a day but the restrictions of OPEC pecked their daily limit to 3.8 million barrels per day, of which if you do the maths on the remaining barrels that sits ideal, UAE were losing almost $55 billion every year, just from that 1 million plus barrels that sits ideal, that's a whole lot of money. Them leaving the OPEC breaks that leash and they can go full capacity when the strait is finally fully opened for all. Oil prices will drop because by then, for the strait to be opened fully means that everything has become normal, Iranian oil will be in the open market, UAE will produce at full capacity which means more oil available in the market as a result of this, there will be crash in price. Basic law of supply.

UAE was the 3rd largest producing country in the world and leaving the alliance means that there could be a shift from once a powerful organization to the one that is being challenge by UAE. UAE is actually not the third largest oil producing country in the world but they (were) the third largest oil producing OPEC country. You're right, there's actually no much benefit from it few years ago two notable countries left the organisation, Qatar and Angola but it wasn't felt the way this current dumping by UAE is now to the organisation. Just imagine how devastating it can be when the third best person in your team leaves. UAE has always played by the organisations books with Saudi Arabia calling the major shots. For me, I think them leaving was partly political and partly betrayal. Betrayal in the sense that they didn't get the much needed protection from the US that claimed they will give it to the region in exchange to keeping the financial status of US afloat. Political in the sense that, UAE built facilities that can accommodate 4.8 plus million barrels a day but the restrictions of OPEC pecked their daily limit to 3.8 million barrels per day, of which if you do the maths on the remaining barrels that sits ideal, UAE were losing almost $55 billion every year, just from that 1 million plus barrels that sits ideal, that's a whole lot of money. Them leaving the OPEC breaks that leash and they can go full capacity when the strait is finally fully opened for all. Oil prices will drop because by then, for the strait to be opened fully means that everything has become normal, Iranian oil will be in the open market, UAE will produce at full capacity which means more oil available in the market as a result of this, there will be crash in price. Basic law of supply.

UAE was the 3rd largest producing country in the world and leaving the alliance means that there could be a shift from once a powerful organization to the one that is being challenge by UAE. UAE is actually not the third largest oil producing country in the world but they (were) the third largest oil producing OPEC country. You're right, there's actually no much benefit from it few years ago two notable countries left the organisation, Qatar and Angola but it wasn't felt the way this current dumping by UAE is now to the organisation. Just imagine how devastating it can be when the third best person in your team leaves. UAE has always played by the organisations books with Saudi Arabia calling the major shots. For me, I think them leaving was partly political and partly betrayal. Betrayal in the sense that they didn't get the much needed protection from the US that claimed they will give it to the region in exchange to keeping the financial status of US afloat. Political in the sense that, UAE built facilities that can accommodate 4.8 plus million barrels a day but the restrictions of OPEC pecked their daily limit to 3.8 million barrels per day, of which if you do the maths on the remaining barrels that sits ideal, UAE were losing almost $55 billion every year, just from that 1 million plus barrels that sits ideal, that's a whole lot of money. Them leaving the OPEC breaks that leash and they can go full capacity when the strait is finally fully opened for all. Oil prices will drop because by then, for the strait to be opened fully means that everything has become normal, Iranian oil will be in the open market, UAE will produce at full capacity which means more oil available in the market as a result of this, there will be crash in price. Basic law of supply.