Mumbai, April 29 -- The impact of the United Arab Emirates (UAE) exiting OPEC on global oil prices will depend on when supply through the Strait of Hormuz normalises, and with strong relation between India-UAE, the move could also accelerate oil-for-rupee trade, according to Anindya Banerjee, Head of Research for Currency and Commodities, Kotak Securities.

In an exclusive conversation with ANI, Banerjee said that the short- to medium-term outlook remains tied to supply disruptions in West Asia. Once the West Asia situation stabilises and oil flows return to normal, the UAE's exit from OPEC is likely to have a downward impact on oil prices.

"...Once the situation normalises in West Asia and oil begins to flow, the UAE stepping out of OPE...