The UAE Realizes That the Abraham Accords Are Better Than OPEC
The Arab League issued statements, but Jerusalem sent interceptors.
May 1, 2026
The Arab League issued statements, but Jerusalem sent interceptors.
As of today, the United Arab Emirates is no longer a member of OPEC, an organization it has been part of since it first became a country. It’s not a bad thing that a cartel whose members include Iran, Iraq (where Iran has enormous influence), Algeria (an Iranian ally), and Libya has lost some of its clout. Nor should one forget that OPEC inflicted serious economic pain on the U.S. with the 1973–74 oil embargo, which was punishment for Israel’s victory in the Yom Kippur War. More generally, the free market is superior to price-fixing and collusion.
The Arab League issued statements, but Jerusalem sent interceptors.
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As of today, the United Arab Emirates is no longer a member of OPEC, an organization it has been part of since it first became a country. It’s not a bad thing that a cartel whose members include Iran, Iraq (where Iran has enormous influence), Algeria (an Iranian ally), and Libya has lost some of its clout. Nor should one forget that OPEC inflicted serious economic pain on the U.S. with the 1973–74 oil embargo, which was punishment for Israel’s victory in the Yom Kippur War. More generally, the free market is superior to price-fixing and collusion.
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