New Delhi, April 29 -- The decision of the United Arab Emirates (UAE) to leave OPEC and OPEC+ may not lead to an immediate fall in oil prices but is likely to increase volatility and weaken the long-term price stability provided by the cartel, according to a report by ASK Wealth Advisors.

The report said that the near-term impact on oil prices is not straightforward, and investors should avoid making simple directional assumptions.

It stated "The near-term oil price effect is not straightforward and investors should resist simple directional conclusions. In a market already shaped by post-Hormuz supply disruption, geopolitical risk premia, and shipping vulnerability, the announcement may not immediately push prices lower"

In such a sce...