India, May 2 -- Although it was on the cards, it came so fast, that not many anticipated it. The UAE, one of the major partners in the Organisation of the Petroleum Exporting Countries (OPEC), has decided to quit the organisation that was formed 65 years ago to ensure steady prices of oil in the world market by regulating and capping the number of barrels of oil each member country could mine in a day. This, in a way, is the undoing of the oil regime the world has witnessed for over sixty years. After the departure of the UAE on May 1, 2026, there are now 11 members left in OPEC. This oil regime controlled around 36 per cent of total world oil exports, and OPEC countries sit over almost 80 per cent of the world's oil reserves. OPEC was fo...