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First Of Many? UAE Exits OPEC As Iran Chaos Triggers Nationalistic Realignment Among Producers
First Of Many? UAE Exits OPEC As Iran Chaos Triggers Nationalistic Realignment Among Producers
OPEC member and major Gulf producer, the UAE, has decided to exit the oil cartel, an unexpected development that crossed Bloomberg headlines on Tuesday morning around 0822 ET.
OPEC finished https://t.co/RtxJdZQeQh
— zerohedge (@zerohedge) April 28, 2026
WAM said the decision reflects the "evolution of sector policies to enhance flexibility in responding to market dynamics, while continuing to contribute to market stability in a thoughtful and responsible manner."
OPEC was founded in Baghdad in September 1960 by Iran, Iraq, Kuwait,...
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Apr 28, 2026 / Tyler Durden
Chaos, Black Rain, Evacuations: Tuapse Oil Facility Struck For Third Time This Month
Chaos, Black Rain, Evacuations: Tuapse Oil Facility Struck For Third Time This Month
Rosneft's sprawling oil refinery in southern port town of Tuapse has been struck by Ukrainian drones once again, unleashing a huge fire and significant destruction, in what marks the third such attack just this month.
"Another serious incident has occurred in Tuapse. A large-scale fire broke out at an oil refinery due to an enemy drone attack," Krasnodar region Governor Veniamin Kondratyev wrote on Telegram, amid large-scale evacuations of the civilian population from the area.
Tuapse disaster in wake of Ukrainian...
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Apr 29, 2026 / Tyler Durden
Goldman's State Of U.S. Consumer Outlook Gets More Grim
Goldman's State Of U.S. Consumer Outlook Gets More Grim
Goldman consumer analysts Kate McShane and Bonnie Herzog cut their 2026 discretionary cash-inflow growth forecast for the second time this year, citing a worsening squeeze on U.S. households as slower disposable income growth collides with higher fuel prices at the pump. The revision points to a softening among cash-strapped consumers as the US-Iran conflict enters its third month.
McShane and Herzog cut their 2026 U.S. discretionary cash inflow growth to 3.7% from the previous forecast of 4.2% in early April, as...
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Ludwig Von Mises
Selected Works of Ludwig Von Mises on Mises.org
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