In a massive development shaking the global oil market, the United Arab Emirates has announced its exit from OPEC and OPEC+ effective May 1, dealing a huge blow to Saudi Arabia-led unity. The decision comes amid severe turmoil in West Asia, with a blockade at the critical Strait of Hormuz disrupting global oil supplies. The US has claimed Iran is on the verge of collapse and has sought help to reopen the strait. This dramatic shift could trigger major volatility in crude prices and reshape energy geopolitics. A game-changing moment for the Middle East and global economy.
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