The UAE’s exit from Opec has raised questions about the group’s ability to stabilise oil markets at a time when surging US production has left it with less leverage than at any point in recent history.
The Emirates’ departure, effective on Friday, removes a key swing producer and comes at a moment of mounting pressure for the organisation and its expanded Opec+ group, as they confront a historic supply shock and internal compliance issues.
“This definitely throws into doubt the ability of Opec+ to continue market management going…
