On May 1, the UAE will leave OPEC, the association of oil-exporting countries, after almost 60 years of cooperation. The Emirates joined the organization in 1967. Before the Iran war, the UAE was OPEC's third-largest producer, accounting for about 12% of the group's total output. The country will also leave OPEC+, an association that also includes a number of major oil producers including Russia, Kazakhstan and Azerbaijan. Sergey Pigarev, senior analyst at Freedom Finance Global, wrote for Oninvest about what this decision means for the oil market.

The UAE will leave OPEC and OPEC+ as of Ma 1. Who will be the winners and who will be the losers

On the first day of trading after the start of a large-scale military conflict between Israel and the United States and Iran, in which other Middle Eastern oil-producing countries were also involved, oil prices predictably jumped. Sergey Pigarev, Senior Analyst at Freedom Finance Global, wrote for Oninvest about who in the Middle East was in a more favorable position and how long the period of high oil prices will last.

Sergey Pigarev

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UAE leaves OPEC: who will be the winner and who will be the loser

Oil price spike: who in the Middle East is better off?