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If the UAE goes ahead and really leaves OPEC, it would ramp up manufacturing by about 3 million barrels, because it has been build up capability since 2020 and won’t longer be restricted by OPEC. Think about if there’s peace with Iran, Iranian oil returns to the market, sanctions are lifted, and the UAE begins pumping huge quantities of oil. After shortage comes glut – and it is perhaps a giant one. submitted by /u/Smart_Money_HQ |
