The Real Politics Behind UAE's OPEC Exit

The UAE's decision to leave the Organisation of Petroleum Exporting Countries, while initially shocking markets, had in fact been signalled by years of growing tension between the Emirates and other members of the organisation.

The withdrawal reflects structural changes in the oil market, increasing competition for market share, and diverging political and commercial interests within OPEC itself.

It is also possible that Venezuela might follow the UAE out of the organisation. ...