Crude oil prices, currently hovering around $111 per barrel, are anticipated to remain high even after the United Arab Emirates (UAE) announced its exit from the Organization of the Petroleum Exporting Countries (OPEC) and its broader alliance, OPEC+, effective May 1. Analysts from ASK Private Wealth indicate that the closure of the Strait of Hormuz significantly impacts oil supplies, contributing to sustained price levels. The UAE, a major oil producer with a capacity of approximately 4.8 million barrels per day, has opted for an independent production policy, allowing it to better align supply decisions with its economic goals, particularly in Asia. Since the onset of the Ukraine conflict, crude prices have surged nearly 52%, raising concerns about inflation and economic growth, especially for countries like India. Analysts warn that ongoing geopolitical tensions, particularly between the U.S. and Iran, may prolong supply disruptions, potentially pushing Brent crude prices above $125 per barrel if the situation escalates further. The market is currently underestimating the duration and severity of these disruptions, leading to increased volatility in oil prices.