The United Arab Emirates' (UAE) departure from the Organization of the Petroleum Exporting Countries (OPEC) is considered an important step that could change the balance in the world energy markets.
Medianews.az reports that the decision could increase oil supply and this may have a downward effect on prices in the long term.
This could produce positive outcomes for consumers and risky results for energy companies in the US.
It is noted that the UAE will operate outside production limits and turn into a stronger competitor in the market. At the same time, the US still imports part of the oil it uses, which keeps the country dependent on some foreign oil products.
Experts say that an increase in global supply could lower prices and negatively impact the revenues of US companies. In case of a demand decrease, there is a possibility of production cuts.
It is emphasized that the decision marks the beginning of a new phase in energy policy in the Middle East and could lead to changes in global energy trade.
Medianews.az