If OPEC still matters, why is the UAE leaving?

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[background music] Hello, folks. You're tuned into Finshots Daily. In today's episode, we look at why the UAE is leaving OPEC and whether the cartel still holds the power it once did. Before we begin, here's a quick word from team Ditto. Life has a way of surprising us, and not always in a good way. Sometimes it's a sudden illness or an unexpected hospital visit that can shake up everything. In India, families still pay about thirty-nine percent of medical expenses directly from their own pockets, and just one hospital stay can wipe out years of savings. The easiest way to protect yourself is by getting a good health insurance plan. It's way cheaper than footing one huge bill. And if you're unaware where to start, book a free call with Ditto. No spam, just honest jargon-free guidance. Trusted by over eight lakh people for their health and term insurance needs. The link is in the description. Now back to the story. Until recently, this would've been hard to imagine. The UAE OPEC's, that is, Organization of Petroleum Exporting Countries, which is the third-largest producer, is leaving the group tomorrow. For decades, OPEC wasn't just another organization. It was one of the most powerful forces in the global economy, controlling a large share of the world's oil. In simple terms, it regulated the global supply of oil to influence its price. So you can say it's an oil cartel. Formed in 1960 by countries like Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela, it was built on a powerful idea. If oil producers acted together, they could take control