Bank of Baosheng: The real challenge for oil-producing countries is not the UAE's "withdrawal from the group," but the structural transformation of the oil market.

```htmlGolden Ten Data reported on April 29 that Norbert Rücker, an analyst at Bank Vontobel, stated that the challenge facing oil-producing countries is not the United Arab Emirates leaving OPEC, but rather a broader structural transformation of the oil market. He added that US shale oil and South American deepwater oil demonstrate the new landscape of the oil market—characterized by stagnation and intensified competition. The UAE's departure from OPEC aligns with Rücker's long-term view of the oil market: abundant supply and fierce competition will anchor oil prices at the high level of over $60 per barrel. The geopolitical consequences of leaving are still unclear. However, Rücker noted that this move comes at a time when the region's relationships are undergoing a larger-scale restructuring and “may help find solutions during ongoing conflicts.”```