The UAE's shock OPEC exit is not without precedence. Who could be next?
The United Arab Emirates' decision to leave OPEC is reverberating across global energy markets, sparking questions on who else could follow.
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At the heart of the UAE's decision lies a familiar tension: members that have invested heavily in boosting production capacity are increasingly reluctant to be constrained by quotas designed to support prices.The country pumped about 2.37 million barrels per day in March, compared with its sustainable capacity of roughly 4.3 million bpd, according to latest IEA data.'Flight risks'Analysts pointed to several potential "flight risk" countries, chafing at OPEC+ restrictions, that could consider giving up their memberships.Matt Smith, lead oil analyst at Kpler, flagged Kazakhstan as a key candidate, noting its persistent overproduction.
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