UAE leaving may be the beginning of the end of Opec.
With the UAE leaving, Opec loses about 15% of its capacity and one of its most compliant members
Saudi Arabia will struggle to keep the rest of Opec together, and effectively have to do most of the heavy lifting regarding internal compliance and market management on its own.
Other members may follow.
This presents a fundamental geopolitical reshaping of the Middle East and oil markets
@Ajay_Bagga A Country like US is so wrong in predicting possible fallout of any conflict, is creating dought whether they really deserve current status?
US intelligence agencies are studying how Iran would respond if President Trump were to declare a unilateral victory and wind down the two-month-old war that has killed thousands and become a political liability for the White House: Reuters report.
Iran’s diplomatic tour: Iranian Foreign Minister Abbas Araghchi traveled to Russia and met with President Vladimir Putin, following meetings in Pakistan and Oman. Araghchi said he and Putin discussed the war in detail. Earlier, he gave Pakistani officials a list of “red lines” to be conveyed to the US, including “nuclear issues and the Strait of Hormuz.”
Donald Trump cancelled the trip of Steve Witkoff and Jared Kushner, two of his envoys, to Pakistan, after Iranian officials said that peace talks there would not be face-to-face. Instead Abbas Araghchi, Iran’s foreign minister, held talks with Shehbaz Sharif, Pakistan’s prime minister, and Asim Munir, the army chief, in Islamabad. Details were scant, but Mr Araghchi said he had shared Iran’s “views and considerations” on ending the war.
@Ajay_Bagga This statment is more logical....as Israel will not Stop until war objectives achieved.,.it's definitely not Current situation.... thanks Ajay ji
The Strait of Hormuz probably will not fully reopen for months, a senior executive at the oilfield services firm Baker Hughes said Friday.
Baker expects the U.S.-Iran conflict to continue through the end of June, said Chief Financial Officer Ahmed Mogal. The strait probably will not be fully operational until the second half of the year, Mogal told investors on the company’s first-quarter earnings call.