{"id":7536,"date":"2026-04-29T17:03:10","date_gmt":"2026-04-29T17:03:10","guid":{"rendered":"https:\/\/directtopic.com\/jubaglobal.com\/uae-shocks-global-markets-by-leaving-opec-king-charles-makes-history-in-congress\/"},"modified":"2026-04-29T17:03:10","modified_gmt":"2026-04-29T17:03:10","slug":"uae-shocks-global-markets-by-leaving-opec-king-charles-makes-history-in-congress","status":"publish","type":"post","link":"https:\/\/directtopic.com\/jubaglobal.com\/uae-shocks-global-markets-by-leaving-opec-king-charles-makes-history-in-congress\/","title":{"rendered":"UAE Shocks Global Markets by Leaving OPEC; King Charles Makes History in Congress"},"content":{"rendered":"

GLOBAL<\/strong> \u2014 In a week of extraordinary developments, the United Arab Emirates announced it will leave OPEC effective May 1, dealing a historic blow to the 65-year-old oil cartel, while King Charles III became only the second British monarch to address a joint meeting of the U.S. Congress.<\/p>\n

UAE Exits OPEC<\/h3>\n

The UAE, OPEC\u2019s third-largest oil producer, confirmed Tuesday that it will quit both OPEC and the wider OPEC+ alliance, effective this Friday. The decision comes amid unprecedented volatility in global energy markets caused by the ongoing US-Israel war with Iran, which has disrupted shipments through the Strait of Hormuz.<\/p>\n

Analysts described the departure as \u201cthe beginning of the end of OPEC.\u201d Brent crude oil was trading at over $111 per barrel on Wednesday, having surged by over 82% so far this year. The UAE, which holds the second-highest spare production capacity within OPEC, has long expressed frustration with production quotas that limited its output.<\/p>\n

The UAE\u2019s departure represents a win for U.S. President Donald Trump, who has previously attacked OPEC for \u201cripping off the rest of the world\u201d by artificially inflating oil prices through production cuts.<\/p>\n

South Africa has already felt the ripple effects. National Treasury extended a temporary R3-per-litre reduction in the general fuel levy and cut the diesel levy to zero, effective May 6, to shield households and businesses from surging fuel prices.<\/p>\n

King Charles III Addresses Congress<\/h3>\n

King Charles III made history on Tuesday by addressing a joint meeting of the U.S. Congress \u2014 only the second British monarch ever to do so, following his mother Queen Elizabeth II in 1991. In his speech, the King extolled the centuries-old bonds between Britain and the United States, calling the alliance \u201cindispensable.\u201d<\/p>\n

The King and Queen Camilla later attended a state dinner at the White House hosted by President Donald Trump and First Lady Melania Trump. During his toast, King Charles offered sympathies over the shooting that occurred Saturday at the White House Correspondents\u2019 Dinner, where a gunman opened fire near the security screening area.<\/p>\n

Attempted Assassination Charges Filed<\/h3>\n

Cole Allen, a 26-year-old high school tutor with a background in mechanical engineering and computer science, appeared in federal court Monday charged with attempting to assassinate President Trump. The shooting at the Washington Hilton, which took place during the annual White House Correspondents\u2019 Dinner, has raised serious questions about security protocols at high-profile events.<\/p>\n","protected":false},"excerpt":{"rendered":"

UAE leaves OPEC in historic blow to oil cartel as King Charles addresses U.S. Congress. Brent crude tops $111 amid Iran war disruption.<\/p>\n","protected":false},"author":1199,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[830,1,782],"tags":[],"class_list":["post-7536","post","type-post","status-publish","format-standard","hentry","category-breaking-news","category-news","category-world"],"_links":{"self":[{"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/posts\/7536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/users\/1199"}],"replies":[{"embeddable":true,"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/comments?post=7536"}],"version-history":[{"count":0,"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/posts\/7536\/revisions"}],"wp:attachment":[{"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/media?parent=7536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/categories?post=7536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/directtopic.com\/jubaglobal.com\/wp-json\/wp\/v2\/tags?post=7536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}