A Fractured Cartel: What the UAE’s Exit Means for Global Oil Governance
This story raises questions about governance, accountability, and American values.
Source: Modern Diplomacy
1 min read
I. The Moment That Changes Everything When the United Arab Emirates announced on Tuesday that it would quit OPEC effective 1 May—after nearly six decades of membership—oil prices reacted immediately: U.S. crude surpassed $100 per barrel for the first time since 10 April.
That single price signal captures, more precisely than any diplomatic communiqué, the [...] The post A Fractured Cartel: What the UAE’s Exit Means for Global Oil Governance appeared first on Modern Diplomacy .
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