Trump Announces Cheap Gasoline Thanks To Historic UAE Demarche
7- 30.04.2026, 8:09
- 3,052
The official withdrawal from OPEC is scheduled for next month.
The United Arab Emirates' withdrawal from OPEC will help bring down energy prices, which have skyrocketed due to the all-out war in Iran. The U.S. president has backed the move and sees it as a positive.
It was reported by Bloomberg.
"I think it's great," Trump said Wednesday at the White House when asked about the move. "It's good for lowering the price of gasoline, the price of oil, everything else."
The UAE is scheduled to officially leave the organization next month. The group's influence on the markets has now been jeopardized.
The market, however, has so far reacted differently - prices continue to rise. Analysts of the publication do not see confirmation of the words of the American president. The cost of Brent raw materials on Wednesday jumped to a record.
The main reason for the rise in prices is logistics, which is tied to geopolitics. Now official sources are recording a difficult situation.
There are a few key factors that are now shaping the market:
The oil market is completely dependent on the closure of the Strait of Hormuz.
OPEC dynamics will remain secondary to prices as long as this waterway is blocked.
Only after its opening will oil flows return to normal.
The rift between the UAE and Saudi Arabia
The Emirates' demarche is not sudden, as the conflict has been brewing for a long time. It is the result of years of tension between the UAE and OPEC leader Saudi Arabia.
The countries have been arguing over several key issues:
Oil production levels and tight quotas.
The UAE's desire to run its own economic game.
Competition for influence in the region.
The White House chief commented separately on the Emirati leader's motives. "He probably wants to go his own way," Trump added, referring to UAE President Sheikh Mohamed bin Zayed Al Nahyan.
Trump's "Long Blockade"
The US leader noted Washington's tough stance and urged the navy to prepare for a long blockade of the strait. The Americans will detain all ships coming or going from Iran until Tehran agrees to a new agreement on its nuclear program.
In turn, Iran has promised to continue blocking the strait from its side.
What's going on in the global oil market
The new package of sanctions against Russia, which is being prepared by the EU, should block Russia's "shadow fleet" that allows Moscow to receive oil revenues.
In the meantime, India has found a new oil supplier because of the problems in the strait. And it's not the Russian Federation, but Venezuela.
The Strait blockage has the world in an oil crisis, but it's not the only natural leverage. We told you about five other places whose blockage or problems could destroy the world economy.
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