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UAE Withdraws From OPEC
The United Arab Emirates has left OPEC, marking a significant departure from the oil cartel. This move is seen as redrawing the power balance in the Middle East, extending beyond oil to broader competing visions. Separately, Eric Trump highlighted Middle East energy use for Bitcoin mining and U.S. government Bitcoin holdings.
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Developing·Limited corroboration so far. This page will refresh as more sources emerge.
The United Arab Emirates has left OPEC, according to reports from The Wall Street Journal and The New York Times. The Wall Street Journal described the exit as a "bombshell" that "isn't just about oil." A tweet from political analyst Ian Bremmer stated, "this isn’t just about oil."
The New York Times reported that the loss of the Emirates "further weakens OPEC’s influence," noting it as part of a series of departures from the organization in recent years.
At The Bitcoin Conference, Eric Trump stated, "The US government holds 300,000 BTC and will not sell it," according to a tweet from Bitcoin Magazine. The tweet described this as a "bombshell." Eric Trump also mentioned that the Middle East is using excess energy from cities to mine Bitcoin and described the suppression of Bitcoin as unbelievable.
Separately, a tweet from Financial Juice cited a senior White House official saying, "The US seeks forfeiture of Iran-linked oil tankers seized at sea."
Politico reported that the White House met with Chevron and oil traders amid an Iran standoff. No specific quotes from the meeting participants were provided in the report.
The vessels' operators have not been publicly identified by the U.S. government, based on available reports. Iran's foreign ministry has not commented as of the dates in the sources.
