E.J. Antoni and Peter St. Onge

Free Press Opinion: Iran war, other factors weakening OPEC

by E.J. Antoni and Peter St. Onge ·July 31, 2026

OPEC looks like it might be coming undone. Major members have threatened to leave, and one already has. This could eventually mean more global…

AFP/Getty Images/TNS / Ships are docked along a pier at the Khor Fakkan Container Terminal, the only natural deep-sea port in the region and one of the major container ports in Sharjah Emirate, along the Gulf of Oman on July 14, 2026. Tehran announced it was closing the Strait of Hormuz on July 12 and launched missiles and drones at its Gulf neighbors, in retaliation for new US strikes following an attack by Iranian forces on a merchant vessel that was abandoned in flames by its crew.