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High Impact

TRUMP ON UAE PULLING OUT OF OPEC: I THINK IT'S GREAT

📅
🏷Markets
📰via WB
✍️Edited by Luís Barata

Former President Donald Trump publicly endorsed the United Arab Emirates' reported move to exit OPEC, calling it "great," a comment that contributed to heightened speculation about potential fractures within the cartel. The remarks amplified market concerns over OPEC's cohesion, particularly amid ongoing efforts to manage oil supply discipline, affecting the group's ability to influence global oil prices through coordinated production policy. This political uncertainty pressured OPEC-related assets and supported short-term bearish sentiment in Brent and WTI futures, as traders weighed the implications of potential supply increases from the UAE outside quota constraints. Oil markets also factored in the possibility of shifting Gulf energy diplomacy, with implications for global crude pricing power and long-term production strategy. Traders will watch for official confirmation from UAE energy officials or OPEC+ meeting minutes for signals on whether institutional realignment is underway.

Source: Originally reported by WB at April 29, 2026. Summary and market context by Trading News Terminal editorial.

About OIL

Crude oil (WTI/Brent) reacts in real time to OPEC+ production decisions, EIA weekly inventory reports, geopolitical supply disruptions (Middle East, Russia, Venezuela) and US Strategic Petroleum Reserve announcements. A 5% intraday move on breaking news is not unusual.

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