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Scott Bessent: “The UAE has come out of OPEC.”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

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Bessent: This was Iran's BIG mistake

Published | Video Starts at 06:49

But we're going to get to the other side of that. And I think on the other side the oil market is going to be very well supplied. The UAE has come out of OPEC. I think we maybe got some permanent demand destruction out in Asia. So I am very confident that the energy prices are going to come down very quickly. (06:49–06:54)

CLAIM

Asserts that the UAE has exited OPEC.

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Scott Bessent

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