Why the U.A.E. Is Breaking Up With OPEC

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 28 April 2026

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for April 28. The United Arab Emirates says it’s leaving OPEC. WSJ foreign correspondent Georgi Kantchev explains how the exit will affect the powerful oil cartel and energy markets. Plus, a Senate bill meant to create more homes isn’t law yet, but it’s putting a freeze on many developments in the burgeoning build-to-rent industry. We hear from Journal housing reporter Rebecca Picciotto about how this affects future home construction projects. And former FBI Director James Comey faces Justice Department charges for a second time. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Access to affordable credit helps me pay my employees, but I don't really need it.
0:05.0	Infliction is killing me!
0:08.0	But who cares? Big retailers are making record profits!
0:12.0	That's why we support the Durban Marshall Credit Card Bill!
0:15.0	See? Banks and credit unions help small businesses make payroll.
0:18.0	This bill would cut the vital resources they need.
0:24.4	While increasing megastore profits, they deserve it.
0:25.1	Don't they?
0:29.1	Tell Congress, stop the Durban Marshall money grab for corporate megastores.
0:31.2	Paid for by the Electronic Payments Coalition.
0:36.8	The UAE is leaving OPEC.
0:41.4	We'll get into what that means for the oil cartel and the oil market. Plus, why a bill intended to create homes has led to an existential crisis for developers
0:46.5	that build homes to rent them.
0:48.3	A lot of build to rent.
0:50.1	Firms are contemplating the idea that if the Senate bill passes as is, this new growing sector of the rental market could go extinct, essentially.
0:58.0	And the Justice Department charges former FBI director James Comey for a second time.
1:03.1	It's Tuesday, April 28th.
1:05.0	I'm Alex Ocelof for the Wall Street Journal.
1:07.4	This is the PM edition of What's News,
1:09.9	the top headlines and business stories that
1:12.0	move the world today.
1:17.8	The United Arab Emirates said today that it would leave OPEC. It's a heavy blow to the oil
	...

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