Loss of Emirates Further Weakens OPEC’s Influence

OPEC will be less powerful without one of its leading members, the United Arab Emirates. The question is: How much?The emergence of the United States as the world’s largest oil producer has diminished the grip that the Organization of the Petroleum Exporting Countries had over the global market, as has the departure of several of the cartel’s members.But the announcement on Tuesday that the Emirates, a major oil…