With Iran itself being a founding member of OPEC, the organisation’s consensus-based system can limit how quickly countries like the UAE respond to such challenges. By exiting OPEC, the UAE now gains more control over its oil policy and can act independently to secure its exports.
The Foreign Ministry of Qatar strongly condemned the attack, calling it “brazen” and a “direct threat to its national security and the stability of the region.”
Pakistan's economy is reeling as the Iran-US conflict disrupts oil flows through the Strait of Hormuz. With fuel prices up 20%, the country faces soaring inflation, agricultural distress, and a potential $14 billion hit to its external payments and foreign reserves.