UAE's withdrawal from OPEC shocks Wall Street; investment banks respond quickly: limited short-term impact, medium-term downside risk for oil prices.
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Several hours after the UAE announced it would officially withdraw from OPEC on May 1st, Wall Street has already begun assessing the impact on the energy markets in the coming weeks and months.
Analysts from JPMorgan, UBS, and Bloomberg largely agree on the core judgment: In the short term, Brent