United Arab Emirates considering quitting OPEC CanadiansInvest
It would be a crippling blow to the influence of the organization on global oil markets
U.A.E. quitting OPEC would weaken the cartel. One of the reasons for OPEC’s recent success in managing the global crude market prices has been its cohesiveness and alliance with Russia. The U.A.E. opting out of OPEC could be a crippling blow to the organization’s influence on the global oil markets. But OPEC is a stumbling block to marketing its spare capacity volumes and the additionally planned crude output. Opting out of OPEC, and freeing itself from its export quotas, would help the country market its available, higher, volumes of oil which it is obligated to under the current OPEC quota.
The political and strategic bond that has kept Saudi Arabia and the U.A.E. together on all fronts – including OPEC –is slowly becoming unglued. When Saudi Crown Prince Mohammad bin Salman first emerged as the frontrunner to succeed current King Salman, it was the U.A.E. President, Mohammad bin Zayed, who was reportedly instrumental in getting him close to the Trump administration, especially the then first son-in-law Jared Kushner. That immensely helped M.B.S.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Teachers protest over suspected Iran schoolgirl poisoningsDUBAI, United Arab Emirates (AP) — Iranian teachers protested Tuesday over suspected poisonings targeting schoolgirls, as a prominent lawmaker and an activist…
Lire la suite »
Latest astronaut from UAE getting used to spaceThe second astronaut from the United Arab Emirates is still adjusting to life off the planet, after rocketing to the International Space Station last week.
Lire la suite »
Ukraine first lady Olena Zelenska in UAE amid Russia's warUkraine's first lady on Wednesday offered spirited support to her nation's people while visiting the United Arab Emirates, a country that still remains open to Russia despite western sanctions.
Lire la suite »
Saudi foreign minister: Syria could return to Arab League, but not yetLONDON — Saudi Arabia’s foreign minister on Tuesday said increased engagement with Syria might pave the way for its return to the Arab League as ties thaw…
Lire la suite »
Volunteers tackle increasing need for United Way tax preparationAbout a dozen volunteers work together to complete taxes for low income earners in Sault Ste. Marie through the United Way
Lire la suite »
United passengers restrain man who tried to stab flight attendantA passenger who helped restrain a threatening man on a weekend flight from Los Angeles to Boston said the episode was over within seconds
Lire la suite »