The David McWilliams Podcast The UAE, Iran, and the Hostage at the Heart of the Oil War
May 7, 2026
A deep dive into why the UAE quit OPEC now and what that means for global oil politics. A close look at Abu Dhabi and Dubai’s different roles and the emirates’ social divides. The shifting balance between Saudi power, shale, and oil pricing. How the UAE’s security fears and ties with Israel reshape Gulf diplomacy and what this gamble signals for small states worldwide.
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Working For The National Bank Of Abu Dhabi
- David McWilliams recounts working for the National Bank of Abu Dhabi and visiting Emirates Palace Hotel.
- He uses this to illustrate Abu Dhabi's opulence, social strata, and the UAE's rapid development from oil wealth.
OPEC's Power Came From Controlling Quantity
- OPEC's original power came from setting quantity; Saudi Arabia acted as swing producer to stabilise prices.
- McWilliams traces OPEC's creation to break the 'Seven Sisters' and explains Saudi cheap production enabled swing-producer role.
Iran Uses Gulf Disruption To Pressure The UAE
- Iran's leverage is increasingly over Gulf states, not just the Straits of Hormuz.
- Attacks and drone strikes threaten UAE tourism, aviation, banking and real estate, making the UAE effectively a hostage in the conflict.