The UAE has left OPEC, the Iran war is disrupting oil flows through the Strait of Hormuz, and Saudi Arabia is under pressure to keep the cartel together. In this episode, we explain what OPEC and OPEC+ actually are, why members cheat on production quotas, and why the UAE’s exit matters more than past departures. We also break down the market impact: crisis-level oil prices, winners and losers, and whether today’s supply shock could turn into tomorrow’s oil glut.