This might seem minor, but this is big because OPEC controlled world oil prices until now. The UAE wants to expand its oil exports and avoid being constrained by the cartel. That means more oil in the market, but beyond that, the UAE's exit might signal a breakup of the cartel itself. We'll have to see how this plays out.
More oil means lower gas prices that every American is looking for. All IMO.
https://www.thefp.com/p/uae-leaving-opec-oil-israel-middleast
"To understand why this has huge implications, here’s some context.
OPEC was formed in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela, ostensibly to ensure the global stability of the oil supply, but fundamentally to act as a cartel to fix the price of oil at a level that benefited the members. As their charter states:
“The principal aim of the Organization shall be the coordination and unification of the petroleum policies of Member Countries and the determination of the best means for safeguarding their interests, individually and collectively.”
But the organization has defined its “interests” quite broadly. Most notoriously, OPEC decided in 1973 that the members’ interest was the punishment of the global economy for Israel’s victory in the Yom Kippur War, leading to a period of stagflation and economic decline. That wasn’t their only time flirting with political manipulation; other instances include pressuring Iran during the Iran-Iraq War and cutting production to keep prices high in 2022, punishing the U.S. for criticizing the Saudi government and enriching Russia during its invasion of Ukraine."