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ECONOMICS & ENERGY |  | | | UAE's Departure Deals Blow to OPEC The United Arab Emirates announced Tuesday it will exit OPEC effective May 1 — a landmark move that removes the group's third-largest producer and further weakens the cartel's grip on global oil markets. The decision also extends to OPEC+, the broader alliance that includes Russia. The UAE framed the exit as part of its long-term economic strategy, pointing to expanded domestic production capacity and a goal of bringing additional supply to market in a gradual, measured way. At its core, the move reflects years of built-up frustration. The UAE has invested heavily to push its production capacity to roughly 5 million barrels per day, yet OPEC quotas kept it producing well below that ceiling. Analysts say the desire for flexibility — and a desire to compete more directly with Saudi Arabia — drove the decision. Columbia University's Karen Young noted the exit also allows the UAE to deepen energy ties with major consumers like China. "There is no energy transition. There is only energy addition." — U.S. Interior Secretary Doug Burgum, to strong applause from Emirati officials |
OPEC's ability to steer global prices has been eroding for years as U.S. production surged past 13 million barrels per day. Analysts at Rystad Energy warn the group is becoming structurally weaker, with less spare capacity among its remaining members. The UAE's exit accelerates that trend — and signals that for major producers, national economic strategy now takes clear precedence over cartel solidarity. |
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POLITICS & MEDIA |  | | | Kimmel Stands By 'Expectant Widow' Quip Despite Pushback Following WHCD Shooting Jimmy Kimmel repeated a controversial joke targeting First Lady Melania Trump — one that alluded to the death of her husband — just days after a gunman entered the Washington Hilton with the alleged intent of attacking members of the Trump administration at the White House Correspondents' Dinner. The late-night host had originally delivered the line during a Thursday mock roast that aired in place of the now-canceled annual comedy event. Rather than apologize in the wake of Saturday's shooting, Kimmel repeated the remark word-for-word during his Monday monologue. Melania responded sharply on social media, calling Kimmel's rhetoric "hateful and violent" and saying his words "deepen the political sickness within America." President Trump weighed in on Truth Social, calling on Disney and ABC to fire Kimmel immediately. The backlash also disrupted Kimmel's show lineup — scheduled guest Oz Pearlman, who had been seated near the Trumps when gunfire broke out, canceled his appearance in the aftermath. "His monologue about my family isn't comedy — his words are corrosive and deepens the political sickness within America." — First Lady Melania Trump |
Kimmel acknowledged the firestorm but showed no remorse, likening the episode to past controversies he'd weathered over political humor. He maintained the joke was purely comedic and unconnected to Saturday's violence. Authorities have charged suspected gunman Cole Allen, who allegedly entered the event intending to target Trump administration officials — a context that made Kimmel's decision to repeat the remark all the more striking. |
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