UAE announces withdrawal from OPEC and OPEC+, Trump could be the "biggest winner"

Odaily Planet Daily News The UAE announced on Tuesday that it will withdraw from OPEC and OPEC+ starting May 1. Against the backdrop of a historic energy shock caused by the Iran war that is shaking the global economy, this deal a heavy blow to the organization and its de facto leader, Saudi Arabia. As a long-time OPEC member, the UAE's surprising withdrawal announcement could plunge the organization into chaos and weaken its influence—even though OPEC usually strives to present a unified stance despite internal divisions on issues ranging from geopolitics to production quotas. This could be a major victory for US President Donald Trump. Trump has accused the organization of "blackmailing the rest of the world" by keeping oil prices high. Trump has also tied US military support for the Gulf region to oil prices, stating that while the US defends OPEC members, they "take advantage of this by setting high oil prices." The UAE is a regional commercial hub and one of Washington's most important allies. This move comes after the UAE criticized other Arab nations for failing to take sufficient measures to protect it from multiple Iranian attacks during the war. (Jinshi)