Jeff Snider
👤 SpeakerAppearances Over Time
Podcast Appearances
So the UAE announced Tuesday that it would exit the Organization of the Petroleum Exporting Countries, or OPEC, along with a wider group of partners known as OPEC, effective May 1st, in what could be a blow to control over prices by the group long fed in practice by Saudi Arabia.
The move reflects the UAE's long-term strategic and economic vision, evolving energy profile, read an official statement carried by UAE State News, as turmoil in the Strait of Hormuz continues to affect
supply dynamics, reports that the UAE would leave have circulated for years, and the country has had disagreements with Saudi over oil production quotas.
President Trump has long criticized OPEC for its role in determining global oil prices, calling it a monopoly during his first term in office, addressing the World Economic Forum in 2025.
Trump urged OPEC countries to lower prices.
Rob, do you have a clip on this or no?
Because I see a yellow color here.
Okay, so we're good with that.
Jeff, what do you stand with the story?
Why is this such a big deal?
John, what do you stand with this?
Who is upset by this the most?
Who does this impact the most?
In what way?
Tell me in what way.
It's politics.
Who does this benefit?
Who does this help?