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Does OPEC Still Matter?
Why this matters: an international story with cross-border implications worth tracking.
On April 28, the United Arab Emirates announced that it would leave OPEC, effective May 1 — ending nearly six decades as an OPEC member. In terms of oil production, it is the most significant country to leave the group. While multiple factors drove the decision to leave, the timing is notable — as the war with Iran has led to the closure of the Strait of Hormuz and focused global attention on oil prices. We asked four experts to consider the impact on OPEC’s future.Read more below. Kristian Coates Ulrichsen Fellow for the Middle East at the Baker Institute The post Does OPEC Still Matter? appeared first on War on the Rocks.
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