Source: Town Hall
by EJ Antoni, Ph.D.
“The United Arab Emirates (UAE) shocked the world on Tuesday when it announced that it’d be leaving the world’s largest oil cartel this week. While there’s no immediate impact for the US, in the long run it’ll mean lower gasoline prices and much-needed relief for American consumers. For decades, the UAE has been part of the Organization of Petroleum Exporting Countries (OPEC), which has artificially limited global oil supplies and thereby put upward pressure on prices. … The idea behind the cartel was simple: gather all the major oil-producing countries into a room and agree to act like a monopoly, thereby maximizing profits at the expense of the rest of the world. But as other nations began discovering and pumping more oil of their own, it became increasingly difficult for a dozen or so countries to control global prices.” (04/29/26)
https://townhall.com/columnists/ej-antoni/2026/04/29/the-opec-cartel-crackup-n2675213