Oil Prices May Retreat To $70
The UAE has announced a decision to exit OPEC and OPEC Plus. The decision may open new avenues for cooperation in clean energy and joint investments outside traditional frameworks. Analysts suggest this could make maintaining oil transport unity more difficult. Crude oil reference prices for Colombia reached 115 dollars, the highest level since 2022. The UAE said its decision-making dynamism and economic independence, stating it will not be bound by specific alliances or organizational decisions. Brent crude prices are trading around 114 US dollars amid market pressure following the announcement of the UAE leaving OPEC. Tensions in the Middle East continue to contribute to market losses. International oil prices rose nearly 3 percent due to shipping disruption risks in the Strait of Hormuz.
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Sources · 7 independent
“oil prices moving up after that shock announcement announced by the UAE. Speaking of that announcement, their shock decision to quit OPEC and OPEC Plus is raising questions about whether other frustrated members could follow as well.”
“their shock decision to quit OPEC and OPEC Plus is raising questions about whether other frustrated members could follow as well.”
“they're saying the move exposes long running tensions over production quotas especially...”
“the move exposes long running tensions over production quotas especially... for countries that have invested heavily in new capacity but remain constrained by the cartel's limits.”
“When asked if the UAE had taken this step in coordination with Saudi Arabia, Energy Minister Suhail Al Mazrouei said his country had not discussed this issue with any other country.”
“the UAE's exit from OPEC brings to mind a step taken by Qatar in 2019, but the difference remains that Qatar represents a smaller player in the oil market”
“The United Arab Emirates said it was quitting OPEC, dealing a blow to the oil producers group as an unprecedented energy crisis caused by the Iran War exposes discord among the Gulf nations.”
“The exit of the UAE, one of the group's biggest producers, weakens OPEC's control over global oil supplies and widens the rift between the UAE and its neighbor Saudi Arabia”
“Americans say they're struggling after years of higher inflation and a recent surge in gas prices due to the Iran war.”
“اعتمادا على الغاز ما جعل تأثير خروجها محدودا أعتقد أننا أمام لحظة في قلب هذا التحالف. أما في الأسواق فالتأثير الأولي قد يفهم على أنه زيادة في الإنتاج وضاقت على الأسعار لكن هذا كان متوقعاً أصلاً”
“في الأسواق فالتأثير الأولي قد يفهم على أنه زيادة في الإنتاج وضاقت على الأسعار لكن هذا كان متوقعاً أصلاً لذلك ورغم الصدمة فإن الأثر على المدى الطوي قد يكون محدوداً”
“den Ölpreis kurzfristig, da sind sich eigentlich alle Experten einig. einig ist unser Korrespondent für die Region. Erst mal nichts passieren, da der Ölpreis momentan nicht von Fördermengen abhängt, sondern von den eingeschränsten Exportmöglichkeiten, Stichwort Blockade von Hormus.”
“Mit dem Austritt aus der OPEC dürften die Emiraten”
“Sie wollen auch einfach mehr Öl exportieren. Diese Entscheidung.”
“dass sie mehr Öl fördern und exportieren wollen, als es ihnen die hat und Abu Dhabi jeweils verfeindete Parteien, die in der OPEC abgestimmten Quoten ermöglicht. Das könnte dann mittelfristig zur Folge haben, dass der Ölpreis sinkt.”
“Birleşik Arap Emirlikleri önemli bir oyuncu. Günde savaş öncesinde 3 milyon varildik bir üretim kirli.”
“Объединенные Арабские Мираты заявляют, что для них больше никакие квоты не действуют. Но на самом деле мы все прекрасно знаем, что Объединенные Арабские Мираты не могут сейчас вывести всю добываемую нефть”
“the decision will be effective from May 1, 2026, and the UAE clarified that its decision is in line with national interest.”
“Hani Abu Aqli from XTB said that global markets need producers who possess high capabilities to increase production and refining.”
“нефтяной рынок накануне, практически не отреагировало решение мира выйти из опек. Рост цен продолжился накануне, только за вчерашний день.”
“This means the Emirates will no longer consult with OPEC regarding production volumes, they will not coordinate their activities.”
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