Rystad Energy & United Arab Emirates

Rystad Energy: Jorge Leon, an analyst at Rystad Energy, noted that the United Arab Emirates' withdrawal marks a significant shift for OPEC, leading to a structurally weaker OPEC and potentially a more volatile oil market.

United Arab Emirates: The United Arab Emirates' decision to leave OPEC and OPEC+ is a strategic move to gain autonomy over its oil production and foreign policy, potentially increasing its global market share and strengthening ties with the United States and Israel, but also deepening its rift with Saudi Arabia.

Rystad Energy: Rystad Energy analysts provided commentary and analysis on the OPEC decision and the United Arab Emirates' withdrawal.

United Arab Emirates: The United Arab Emirates withdrew from OPEC and OPEC, causing internal fractures within the cartel. Its production will no longer count towards OPEC quotas, and it plans to significantly increase its own output.

Rystad Energy: Rystad Energy economists provided analysis on potential crude oil supply losses due to the Strait of Hormuz closure and predicted price increases.

Rystad Energy: Rystad Energy, through its head of geopolitical analysis Jorge Leon, provided expert commentary on the impact of the Strait of Hormuz situation on oil markets.