This episode traces OPEC’s origins in 1959, when oil-producing nations banded together to challenge Western corporate control—spurred by investigative journalism and secret diplomacy. It explains how OPEC evolved from a consultative forum into a price-setting force after the 1973 oil embargo, adopting formal production quotas by 1982 to balance revenue and market stability. The show details Saudi Arabia’s role as swing producer and the recurring tension between cooperation and cheating—highlighted by Saudi Arabia’s 1985 output surge that crashed prices. It then explores the UAE’s 2022 exit, driven by quota disputes and the Green Paradox, as well as escalating regional tensions, including an Iranian missile strike on Emirati soil. Finally, the episode clarifies that the UAE’s departure won’t lower gas prices: its oil remains largely blocked from global markets by the Strait of Hormuz, and its share of world supply is too small to move prices without broader coordination.