UAE just left OPEC after 59 years. The cartel lost 15% of its capacity overnight. uae announced yesterday theyre leaving opec and opec plus effective may 1. after being a member since 1967. the math is wild. uae can pump nearly 5 million barrels a day. opec had them capped at 3.22. thats a third of their capacity sitting idle. billions in lost revenue every month just to maintain cartel discipline. the timing isnt random. energy minister al mazrouei said the iran war disruption created the right moment. translated from diplomat: everyone is distracted by hormuz so nobody can retaliate before its done. what this actually changes. opec loses its third largest producer. spare capacity without uae drops to about 1 million barrels a day. thats 1 percent of global demand. for context during the 2008 crisis opec had 6 million barrels of spare. now one pipeline outage anywhere and theres no cushion. saudi is now essentially alone as a swing producer. the uae saudi rivalry just went public.…