42 UAE joined OPEC in 1967 and has been a member for nearly 60 years… UAE joined OPEC in 1967 and has been a member for nearly 60 years… This is a seismic shift. The UAE is effectively breaking free to pump as much oil as it wants, at a moment when the world is desperately short of supply… (twitter.com) posted 82 days ago by Oldpatriot 82 days ago by Oldpatriot +42 / -0 9 comments share 9 comments share save hide report block hide replies
If UAE can get ships through the strait then their extra oil would help the rest of the world. In a few day Iran will begin to irretrievably lose production capacity as the y have to shut down wells, so the loss will need to be made up.