Oil profits soar as OPEC fractures and consumers pick up the bill
April 29, 2026
The United Arab Emirates’ decision to leave OPEC, effective 1 May, comes at a moment when the global oil market is already under severe strain—and when oil majors are reporting a new wave of exceptional profits. Taken together, experts highlight the two developments as a deeper shift underway: a market increasingly shaped by geopolitical shocks […]