UAE To Leave OPEC Amid Hormuz Oil Crisis (apnews.com)
- Reference: 0183029192
- News link: https://news.slashdot.org/story/26/04/28/1622229/uae-to-leave-opec-amid-hormuz-oil-crisis
- Source link: https://apnews.com/article/opec-united-arab-emirates-leaving-cartel-4966108c3fafacb67181152216deda14
> The United Arab Emirates announced Tuesday that it [2]would exit the Organization of the Petroleum Exporting Countries (source paywalled; [3]alternative source ), or OPEC, along with the wider group of partners known as OPEC+, effective May 1, in what could be a blow to control over prices by the group, long led in practice by Saudi Arabia. The move "reflects the UAE's long-term strategic and economic vision and evolving energy profile" read an official statement carried by a UAE state news agency, as disruptions "in the Strait of Hormuz continues to affect supply dynamics."
>
> [...] The UAE is the second Persian Gulf country to leave the group after Qatar terminated its membership in 2019. The UAE has been a member of OPEC since 1971. The latest departure leaves in place 11 core members: Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia and Venezuela.
[1] https://slashdot.org/~fjo3
[2] https://www.washingtonpost.com/world/2026/04/28/uae-opec-iran-hormuz-trump-saudi/
[3] https://apnews.com/article/opec-united-arab-emirates-leaving-cartel-4966108c3fafacb67181152216deda14
Re:Trump Iran Crisis (Score:5, Insightful)
It's an impressive accomplishment - nobody liked Iran, though it had allies. This unnecessary war is pissing everyone off enough they're more or less siding with Iran over the US.
That's the 'respect' Trump has brought to America.
We gave Iran the nuke (Score:5, Insightful)
Only it's the strait of Hormuz instead of an actual nuclear weapon. And it's way more effective than any nuclear weapon they could ever get their hands on.
Iran now has the power to crash the entire world economy. All thanks to the staggering incompetence of one senile old man and a bunch of sycophantic hangers on and a bunch of people who couldn't figure out that making a known rapist and pedophile president wasn't going to end well for them...
The thing is so far about 40% of the country here in America has been completely insulated from this mess. It won't last but it's looking like it may hold out for them until after the midterms and then they don't matter anymore.
Iran had the "power to crash" for decades (Score:1)
> Iran now has the power to crash the entire world economy.
Iran had the "power to crash" the world economy for decades. The OPEC oil crisis of the 1970s was a proof of concept in many ways.
You are erroneously conflating ability with willingness. Their ability to do so has been reduced. The willingness to do so is what has been increased.
Re: (Score:2)
> Only it's the strait of Hormuz instead of an actual nuclear weapon. And it's way more effective than any nuclear weapon they could ever get their hands on. Iran now has the power to crash the entire world economy. All thanks to the staggering incompetence of one senile old man and a bunch of sycophantic hangers on and a bunch of people who couldn't figure out that making a known rapist and pedophile president wasn't going to end well for them... The thing is so far about 40% of the country here in America has been completely insulated from this mess. It won't last but it's looking like it may hold out for them until after the midterms and then they don't matter anymore.
Hey, they owned the libs. That's the important thing. They really owned the libs. They also owned themselves, and most of everybody else on the planet, but those lib tears man, they must make a glorious cocktail to make all the other damage worthwhile.
So far no consequences (Score:2)
Gas prices have gone up a bit but it's nothing they can't absorb. You can see that in Trump's poll numbers. They can keep telling themselves gas will come back down in 2 weeks.
So you can keep that up until the midterms as long as gas doesn't get so expensive that it prevents them from paying rent or mortgages or buying food. That's the point where they have to abandon dear leader but we're not anywhere close to that yet for those people.
Owning the libs is part of it. My God they love yelling TDS. B
Re: (Score:3)
> Gas prices have gone up a bit but it's nothing they can't absorb. You can see that in Trump's poll numbers. They can keep telling themselves gas will come back down in 2 weeks.
It's the exact opposite. Sure, the MAGA base can ignore gas prices, but the non-MAGA republicans and the right-leaning independents are much more easily swayed by gas prices, and it's this third of voters that produces political tsunamis. Carville continues to be right - it's the economy, stupid. That continues to be true even if a third of voters are intransigent MAGA.
Re:We gave Iran the nuke (Score:4, Interesting)
> Only it's the strait of Hormuz instead of an actual nuclear weapon.
With some exceptions regional hydrocarbon extractors deliberately decided not to invest in bypassing the Hormuz choke-point. They likely presumed worst case US would intervene to open it by force. Nobody is going to make that mistake again.
> And it's way more effective than any nuclear weapon they could ever get their hands on.
This nonsense is absurd on its face.
How is it absurd? (Score:2, Troll)
How many times have nuclear weapons been used? How sure are you that Russia's nuclear weapons work? How about america's?
But the fact that Iran can close the straight is a fact. They can do it without freaking out the rest of the world and without the incredible expense of maintaining a large enough nuclear arsenal that nobody decides to chance it and see whether or not those nukes really work.
Iran could have a couple of actual nuclear missiles but they would have to not only prove that they could h
Re: (Score:2)
> But all they need to do to close the straight is to drop a few mines and take some pot shots at some vessels. Pirates could do that let alone a functioning nation state.
> The difference is between a threat that may or may not be able to be backed up and one that absolutely can be. That's why closing the straight is better than having a nuclear weapon.
> As an added bonus it freaks people out less so if Iran can return things to some semblance of normality we will all just kind of forget about it.
I'm going to turn your country into a glass parking lot is neither equivalent to or more effective than I'm going to block ships from traveling through a waterway.
Blocking or meaningfully threatening to block a choke point results in capital expenditures on infrastructure to prevent the choke point from persisting. So no it isn't "way more effective than any nuclear weapon they could ever get their hands on." in any way shape or form.
This is further evidenced by the fact the US blockade persisted despite I
You do know people are going to starve to death (Score:2)
Right? About 1/5 of the world's fertilizer goes through that straight and unless it opens up real soon it's going to miss the growing season and we're going to have famines. One of the dirty little secrets of our current civilization is that we use oil byproducts as fertilizer and without those we can't grow enough food to keep the planet fed.
Now the good news is there is plenty of oil for several hundred years. But just because we have enough to feed everybody doesn't mean we will.
That makes Iran's
Re: (Score:2)
> I'm going to turn your country into a glass parking lot is neither equivalent to or more effective than I'm going to block ships from traveling through a waterway.
Any attempt to turn a country the size of Iran or the United States into a glass parking lot would pretty much have repercussions the world over. Even with Iran on the other side of the world from the US, neither party would escape the results. The real reason no country has been insane enough to use nukes or show signs of meaningfully planni
Re: (Score:1)
>> How many times have nuclear weapons been used?
> Iran is crazy enough to use one. The moment they're able to nuke Washington D.C., they will. But only after nuking Israel.
Once they get one they could be justified to use it against people who keep attacking them over and over. It's interesting how you can prevent them from getting them and legitimize them needing them at the same time. We'll see how that works out in the long run.
Re: (Score:2)
> This nonsense is absurd on its face.
America has the world's largest arsenal of nuclear weapons and it is effectively powerless against what is going on with the closure of the Strait of Hormuz. Having a nuclear weapon which you can't use (MAD / political consequence) is useless. It's absurd to think that choking the world economy isn't a far more effective global weapon.
Re: (Score:2)
> America has the world's largest arsenal of nuclear weapons
No, Russia has the worlds largest nuclear arsenal.
> and it is effectively powerless against what is going on with the closure of the Strait of Hormuz.
No, your assertion US is powerless is absurd. The US currently chooses not to commit assets to the Hormuz kill box to unblock it during current "ceasefire". I wouldn't either. Way better ATM to cure Iran's oil curse and let nature take its course. The regime is having trouble paying the foreign proxies currently occupying Iran it imported just a few weeks ago and shit is only getting worse for them.
> Having a nuclear weapon which you can't use (MAD / political consequence) is useless.
> It's absurd to think that choking the world economy isn't a far more effective global weapon.
Just to be clear you are saying nukes are useless so lit
Re:We gave Iran the nuke (Score:5, Informative)
There are some mindless haters anywhere but a lot of people are thoughtful. And a lot of those thoughtful people really can't stand Trump. I mean the guy lies soooo much, even for a politician. Thoughtful people tend not to like that. Especially when it translates to action that is seen as harmful to so many people.
And when I say he lies, I mean that as an objective statement of fact. I'm not expressing my opinion. There are people who literally sit around all day and fact check him, and provide documented verifiable evidence of the lies. Some info on that here: [1]https://en.wikipedia.org/wiki/... [wikipedia.org]
But you must surely be aware of this?
[1] https://en.wikipedia.org/wiki/False_or_misleading_statements_by_Donald_Trump
Re: (Score:2)
I didn't dislike trump, until I heard him speak. That was on the TV show where he got huge pleasure from telling people "Your fired!". My immediate reaction was where is his compassion? You don't talk to people like that, it is a rule of basic human decency. Of course now he is no longer a TV side show act I no longer dislike him, I hate him. While I feel sad for the destruction of the USA, I have friends there and used to enjoy visiting when it was an open country, however it was a choice that the peo
Don't feed the trolls (Score:2)
Your +5 comment keeps the troll comment visible.
But as for real world harm Trump has caused there's a little over 500,000 dead children. That is the number of deaths caused by cuts to usaid since Trump took office. There is absolutely no debate whether these numbers are accurate the only debate is whether or not we should care since they aren't American children.
Even if you don't care about children outside of America I would like to think people are smart enough to understand that it's cheaper to d
Re: (Score:2)
> Is this the kind of people who use this site? nothing but trump haters. Thats all I ever see here anymore, I don't come on here for that.
Unfortunately this is Slashdot. Most people here have a handicap that comes with functional braincells and as a result hate Trump. The man has literally something to hate for everyone. Anyone not aligned with him politically hates him (50% of America - ~174million people) . Anyone who voted for him has been backstabbed and screwed with broken promises so most people who supported him and actually see what's going on have a reason to hate him (probably a whole 5 people who voted for him). Everyone not in Ame
Re: (Score:2)
The strait of Hormuz can be captured/secured by the US with little difficulty. Look at a map .. most of the area next to it is desert. Two or three divisions could probably secure it. They'll have to expel all current residents in the area though.
Re: (Score:3, Interesting)
If you come across a republican that is supposedly fed up with the current administration ask them this simple question. Given the chance to vote for Trump a third time or a democrat, who would they choose?
Re: (Score:3)
I'm a Republican. I haven't voted for Trump or his particular sycophants. Although rare, it is possible to be a member of a political party but still vote for who you feel is going to do the best job in the respective office, regardless of party. If the party doesn't like how I vote, they should get better candidates.
Party loyalty is the root cause of our problems (Score:1)
> Although rare, it is possible to be a member of a political party but still vote for who you feel is going to do the best job in the respective office, regardless of party. If the party doesn't like how I vote, they should get better candidates.
You are absolutely correct. Party loyalty is the root cause of our problems with the radical left and the radical right. Via our primary system radicals get an exaggerated voice. Once nominated, party loyalty puts them into actual office.
Look at who the decision makers are? It's the independents. Look at who the parties care about? It's the independents, not their loyal voters. Loyal voters don't need to be persuaded, they can be ignored. It's only the independents that need to be courted, considered, an
Protest votes (Score:1)
> I vote republican in the general election. My state didn't have a primary, so I didn't have the opportunity to vote against Trump, which I would have.
There is a thing called a protest vote. Once can vote libertarian for President, and party line for everything else.
Voting for the better candidate, regardless of party, or a protest vote if both unacceptable, is the only way the political parties will be reformed. Party loyalty just puts the insiders in control. Disloyalty would allow the voters to regain control from insiders and the radicals who have an oversized voice due to the primary process.
Losing an election is the only thing that can lead to
Re: (Score:3)
> It's an impressive accomplishment - nobody liked Iran, though it had allies.
Iran now has even fewer allies after lobbing missiles and drones at everyone in the region. The UAE was one of Iran's top targets. Now the fucking Israelis are sending Iron dome to UAE.
Re: (Score:2)
> It's an impressive accomplishment - nobody liked Iran, though it had allies. This unnecessary war is pissing everyone off enough they're more or less siding with Iran over the US.
> That's the 'respect' Trump has brought to America.
Trump said, "I had to take this little excursion and do something that no other president had the courage to do." While those other presidents actually analyzed the situation and had enough good advisors, brains and patience to *not* do this. Iran blockading the Strait of Hormuz was always an option for them, but they had no really good justification to initiate this action unilaterally. Benjamin Netanyahu easily convinced Trump ('cause ego and, probably, dementia) that attacking Iran (for them, while g
Re:Trump Iran Crisis (Score:4, Interesting)
The "liberal" media also uses careful wording. Headlines state the war in Iran instead of the war with Iran as to distance US involvement. This is entirely the US and Israel's doing. The story changes overnight when MAGA says so. Literally from "no new wars" to "we must stop Iran immediately".
Re: (Score:2)
> Headlines state the war in Iran instead of the war with Iran as to distance US involvement.
That's not necessarily a political statement, it's journalistic standards. War hasn't been declared. Kind of like they call this week's DC shooter the "alleged" or "suspected" shooter. It's not because they think the feds swapped perps in some sort of conspiracy. It's because he hasn't been tried, so that's what you do.
Re: (Score:2)
> That's not necessarily a political statement, it's journalistic standards. War hasn't been declared.
OK, so if the press dropped the word "war" altogether and instead used the phrase, "the United States and Israel's unprovoked attacks on Iran," would you be satisfied with that?
Re: (Score:2)
Epstein Files Oil Distraction Plan
Re: (Score:2)
Remember when /. wasn't reddit
Re: (Score:2)
I remember when Reddit wasn't Reddit. When dialogue was often intended to reach understanding.
Re: (Score:2)
> It already had a name, it's the Trump Iran Crisis. Now people are trying to whitewash it?
Literally no one has called it that. I'm not fan of the Orange Shitstain, but the official name was the 2026 Iran War, and the fuel shortage is the 2026 Strait of Hormuz Crisis.
Basically has been since week one of this moronic episode by our master negotiator.
what's the government to do (Score:2)
And the Federal Reserve going to do if the PetroDollar crashes & burns? Go back to the gold standard? What other standard will they use?
Re: (Score:2)
This is already why the US went after Iran. Economic stability in disguise. Population growth is slowing to the point that Social Security and Medicare will collapse under its obligations unless we can just continue to inflate our way out of things. And inflation only works for the US because the dollar still has value outside of the US because people are trading with it and holding it.
Re: what's the government to do (Score:1)
I believe this is why immediet action was taken when Iran started using bitcoin in their transactions. A lot of people really don't understand how benwficial it is to the USA that crude sales are all done in USD as opposed to the currwncy the seller chooses.
Cracks in the price-fixing organization (Score:2)
That can't be a bad thing. Hopefully a race to the bottom for oil prices.
Raises hand - OPEC+ ? (Score:2)
> UAE ... would exit ... OPEC, along with the wider group of partners known as OPEC+ ...
Is OPEC+ their streaming service? :-)
UAE leaves OPEC (Score:2)
Fair enough, since they are no longer in the business of exporting oil.
The Saudi's still export some, via their pipeline to the Red Sea.
Re: (Score:2)
> Fair enough, since they are no longer in the business of exporting oil.
How do you figure that one? Oil and gas are about 30% of the UAE's GDP. They're something like the fourth-largest exporter worldwide. And leaving OPEC will allow them to increase production however they see fit, unrestrained by OPEC rules.
Good (Score:2)
Fuck OPEC and fuck Saudi Arabia - bunch of useless cunts.
OPEC is really the Saudis (Score:5, Informative)
OPEC has just been a front for the Saudis for a very long time. Only they really have the ability to meaningfully meter output.
Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Libya, Nigeria, and Venezuela all basically produce as much as they can regardless of OPEC. Their output is mostly determined by ability to attract investment, security (or lack thereof) and geopolitical obstacles (as in Iran). Kuwait and UAE have the ability to meter, but they are too small in total output to matter. Russia has informally worked with OPEC on quotas, but they have likely lost the ability to meter output now that Ukraine is attacking its export faculties.
Cartels usually fail ... (Score:1)
> OPEC has just been a front for the Saudis for a very long time.
OPEC is a cartel. Cartels often have leaders. Cartels usually fail, loyalty/control eventual fades and self interest asserts itself.
Re: (Score:1)
> OPEC has just been a front for the Saudis for a very long time. Only they really have the ability to meaningfully meter output.
> Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Libya, Nigeria, and Venezuela all basically produce as much as they can regardless of OPEC. Their output is mostly determined by ability to attract investment, security (or lack thereof) and geopolitical obstacles (as in Iran). Kuwait and UAE have the ability to meter, but they are too small in total output to matter. Russia has informally worked with OPEC on quotas, but they have likely lost the ability to meter output now that Ukraine is attacking its export faculties.
As soon as prices go up it becomes profitable to extract elsewhere diluting OPEC's market share. The difference between OPEC and other producers is the lag in response to market changes.