UAE Exits OPEC, OPEC+; Hormuz Blockade Continues | Horizons Middle East & Africa 4/29/2026

Watch on YouTube ↗  |  April 29, 2026 at 06:45  |  47:58  |  Bloomberg Markets
Speakers
Amir Handjani — Director of Research, Galaxy Digital
Vincent Juvyns — Chief Investment Strategist, ING Belgium
Joumanna Bercetche — Anchor, Bloomberg

Summary

The video covers the UAE's shock exit from OPEC, the ongoing U.S. blockade of the Strait of Hormuz, and the impact on oil markets. Investment strategists discuss stagflation positioning, favoring emerging markets and European credit while avoiding duration. European bank earnings (UBS, Santander) beat estimates, and security concerns in Mali are also covered.

  • UAE announces exit from OPEC and OPEC+ effective May 1, citing desire for production freedom.
  • President Trump reportedly plans an extended naval blockade of the Strait of Hormuz, increasing oil supply risks.
  • Brent crude trades near $111, with analysts seeing potential for further upside due to physical tightness.
  • ING's chief strategist recommends a stagflation strategy: favor emerging markets and European credit, avoid duration.
  • UBS and Santander report better-than-expected first-quarter earnings with strong trading revenue.
  • Mali reaffirms ties with Russia after deadly attacks raise security doubts.
  • Focus remains on Fed decision and Magnificent 7 earnings later this week.
Trade Ideas
Vincent Juvyns Chief Investment Strategist, ING Belgium 20:19
Favor emerging markets equities.
In a stagflation environment, favor equity markets that are less energy-intensive and less dependent on oil imports. Emerging markets stand out as relatively well positioned.
EEM MED
Vincent Juvyns Chief Investment Strategist, ING Belgium 22:56
Avoid long-duration bonds.
Given persistent inflation and global rate hikes, avoid long-duration bond exposure. The portfolio should be positioned away from duration risk.
Long-duration government bonds MED
Vincent Juvyns Chief Investment Strategist, ING Belgium 23:04
Focus on European credit.
In a stagflation allocation, focus on European credit as a relatively attractive area, while avoiding duration and leaning into sectors that can weather the environment.
European credit (investment grade) MED
Nadia Martin Wiggin Energy Analyst, Wood Mackenzie 36:42
Oil could hit a new high.
Physical oil market is tightening with stocks drawing about 3 million barrels per day in May, refinery margins are strong, and the risk of further escalation in the Strait of Hormuz conflict is not priced in. This could push Brent crude to a new high.
BNO HIGH
Up Next
47:25
China’s Meta Backlash Kills Manus Model | Insight with Haslinda Amin 04/29/2026
Bloomberg Markets · Apr 29
1:35:09
UAE Blindsides OPEC, OpenAI Sparks Tech Jitters | The Asia Trade 4/29/2026
Bloomberg Markets · Apr 29
33:41
9% Inflation For 10 Years, Bond Crisis; The Assets That Win Or Break Revealed | Clem Chambers
The David Lin Report · Apr 29
1:00:58
Why the AI Trade is only starting.. - Bubble Boi
Thread Guy · Apr 29
47:51
King Charles Addresses Congress in US Visit, UAE to Leave OPEC | Balance of Power 04/28/2026
Bloomberg Markets · Apr 28

This Bloomberg Markets video, published April 29, 2026, features Vincent Juvyns, Nadia Martin Wiggin discussing EEM, Long-duration government bonds, European credit (investment grade), BNO. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Vincent Juvyns, Nadia Martin Wiggin  · Tickers: EEM, Long-duration government bonds, European credit (investment grade), BNO