Dagen McDowell: This is an EXISTENTIAL CRISIS for OPEC

• Iran's oil exports are plummeting, with storage running out, potentially leading to 'irreversible' damage to oil fields.
• President Trump is reportedly skeptical of Iran's proposal to open the Strait of Hormuz in exchange for suspending nuclear talks.
• The UAE announced it will leave OPEC on May 1st, after six decades of membership, which could lead to increased oil supply and a shift in geopolitical power.
• U.S. Treasury yields, particularly the 2-year and 30-year, have risen significantly since the start of the 'war' (referring to the Iran conflict), indicating increased borrowing costs for the U.S. government.

The video discusses the financial pressure on Iran due to the U.S. blockade, Iran's proposal to open the Strait of Hormuz, and the geopolitical implications of the UAE's decision to leave OPEC. Panelists also touch on U.S. Treasury yields and inflation, suggesting a complex and evolving global economic landscape.