U.A.E.’s OPEC Exit Deals Major Blow to Cartel

“The United Arab Emirates said it would leave OPEC, dealing a heavy blow to the oil cartel as the war in Iran scrambles alliances and investment priorities among the world’s top oil producers,” the Wall Street Journal reports.

“The sudden departure of OPEC’s third-biggest producer further weakens a bloc that despite producing up to four out of every 10 barrels of oil pumped worldwide has been hobbled by internal disunity and the rise of American oil output.”