What will the UAE’s withdrawal from OPEC mean for the powerful cartel?
· Financial Post
On Tuesday, the United Arab Emirates (UAE) announced it will leave the Organization of the Petroleum Exporting Countries (OPEC) as of May 1. The news is a blow to Saudia Arabia, OPEC's de facto leader, and threatens to upend the cartel's longheld control over the production, supply and price of oil flowing from its member countries — accounting for about 80 per cent of known global oil reserves. Here, the Financial Post drills down on what the departure could mean for the group, the region and the world. Read More
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