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Fundamental shift: UAE leaves OPEC
I suspect the UAE will be trying to match the US instead of OPEC, because US petrol-industry costs notably more, so the preferred normative price of petrol for the US will generally fetch the UAE more revenue than trying to align with OPEC.
This is good news for the US, since it gives them to more ability to buffer the decline of the USD.
We might however see the contentions between the Saudis and UAE sharpen further, since their mutual interests that were aligned via OPEC, will no longer prevent them from diverging further.
With UAE making moves like this, we should also not be surprised if they add more momentum behind their recognition of Somaliland.
Either way, this is no tiny matter, and it's very likely we'll be seeing ripple effects as a direct result of the Emiratis choice to leave OPEC.
The above are my from-the-hip takes.
Wyatt at Defense Politics Asia (DPA) provides us with a leisurely synoptic coverage on this matter.
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Fundamental shift: UAE leaves OPEC
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