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Oil

How the UAE’s departure from OPEC could impact oil markets

There seems to be little movement on the resumption of talks between the U.S. and Iran. There is also almost no movement through the Strait of Hormuz, the vital bottleneck that's essentially cut off 20% of the world's oil and gas supply. Tuesday, the UAE announced it will leave OPEC, the cartel that has largely controlled oil supplies for decades. Amna Nawaz discussed more with Karen Young.

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Trump’s big oil crackdown ‘sounds like political theater’, says expert

President Trump has ordered the DOJ to investigate oil companies over claims they are too slow to lower gas prices despite falling crude costs. Karen Young, senior research scholar at Columbia University’s Center on Global Energy Policy, called the move “political theater,” saying that’s “not really how gasoline prices work” in the U.S.

News and Publications with Karen E. Young • CNBC • June 24, 2026
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