UAE to leave OPEC

ft.com

411 points by bazzmt 19 hours ago


https://archive.ph/d956y

https://www.reuters.com/markets/commodities/uae-says-it-quit...

JumpCrisscross - 19 hours ago

Context:

(1) “The United Arab Emirates,” today “made a shock request of [Pakistan] — repay $3.5bn immediately” [1].

(2) Saudi-Emirati relations were at an all-time low before the Iran War [2]. (Saudi Arabia just bailed Pakistan out of its Emirati loan. Saudi Arabia and Pakistan agreed a mutual-defence treaty last year [3].)

Put together, we’re seeing an Emirati-Israeli axis emerging to balance Saudi hegemony in the Gulf and Iranian hegemony over the Persian Gulf. I’d expect to see an Emirati deal with Egypt and India next if this hypothesis is correct.

What I don’t yet see is the ambition of the endgame. Is it Saudi Arabia backing off in Africa? Or is it seizing the Musandam Peninsula, islands of the Strait and possibly even territory on the other side?

[1] https://www.ft.com/content/99073d6e-4b57-417f-88fb-7a2c0e55e...

[2] https://www.nytimes.com/2025/12/30/world/middleeast/yemen-sa...

[3] https://en.wikipedia.org/wiki/Strategic_Mutual_Defence_Agree...