The Big OPEC Shakeup Is About a Lot More Than Oil
Israel
A commercial vessel off the coast of Dubai on April 20. Photo-Illustration: Intelligencer; Photo: Getty Images In a blockbuster announcement last week, the United Arab Emirates announced that it would leave the Organization of Petroleum Exporting Countries (OPEC) on May 1. The UAE has been a member of the oil cartel since the country was founded in 1971, but in recent years, it has grown frustrated with OPEC quotas to produce less in order to keep prices high enough to appease Saudi Arabia, by
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