About this episode

The episode discusses the UAE's decision to leave OPEC and its implications for the global economy and dollar stability.

A week ago, the UAE said it was in consultation with the US government trying to arrange a dollar swap line. Since then, Treasury Secretary Bessent told Congress MANY allies were, too, and not just those in the Middle East. Just hours ago, huge news as the UAE says it’s outright leaving OPEC. There is big stuff going on behind the scenes because the energy shock is indeed a dollar shock and much bigger than people think, and the chances of becoming uncontained are not trivial. Eurodollar University's Money & Macro Analysis UAE to Leave OPEC in May as Iran War Reshapes Oil Market https://www.bloomberg.com/news/articles/2026-04-28/uae-to-leave-opec-and-opec-next-month-to-pursue-new-strategy Bessent Says Gulf, Asian Allies Requested Currency Swap Lines https://www.bloomberg.com/news/articles/2026-04-22/bessent-says-many-us-allies-in-gulf-asia-requested-swap-lines Pimco’s $10 Billion Private Deals Fuel Middle East’s Wartime Cash Quest https://www.bloomberg.com/news/newsletters/2026-04-27/pimco-buys-abu-dhabi-qatar-kuwait-private-bonds-dubai-homes-prices-fall Dubai's DIFC introduces temporary economic support for businesses, retail community…

People in this episode

Host: Jeff Snider

Topics covered

• UAE
• OPEC
• currency swap lines
• energy shock
• dollar shock
• Middle East
• macro analysis

Keywords

• UAE
• OPEC
• dollar swap lines
• energy shock
• Bessent
• Pimco
• Middle East

Mentioned in this episode

Organizations: UAE, OPEC, Pimco

Places: Middle East, Dubai

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