Editorial: El Mundo

• The departure of the United Arab Emirates from OPEC is the largest blow in its history, losing its third most important partner.
• The UAE, which produces 4.5% of the world's crude and 13% of OPEC's, had disagreements with the organization before the Iran war.
• The UAE has a more diversified economy than Saudi Arabia and does not need to maintain high prices to balance its accounts.
• The UAE chose to leave OPEC in order to be able to produce more crude.
• The recent increase in US oil exports has threatened OPEC's dominance.
• The weakening of OPEC favours Donald Trump in his attempt to consolidate the US as the main crude exporter.

Conclusion: The departure of the United Arab Emirates from OPEC marks a significant change in the structure of the oil market and could favour the United States, although the long-term implications are unclear.

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