Trump's Military Interventions Weaken OPEC's Influence Over Oil Markets

US President Donald Trump's military interventions in Venezuela and Iran have dealt a significant blow to OPEC, reducing its influence over global oil markets.

OPEC's share of global production has declined from around 50% in the 1970s to approximately 26% as of March this year.

The UAE recently announced it would leave the group after 60 years, citing a desire to pursue its energy strategy independently.

This shift is seen by some as a major win for Trump, who has long been critical of OPEC's role in maintaining artificially high oil prices.