This week: The UAE quits OPEC after nearly 60 years, and we explain what OPEC is and why it matters for gas prices. Consumer confidence hits its lowest level since 1978, even as stocks sit near all-time highs. The Federal Reserve holds rates steady in its most divided vote in over 30 years. And the world’s most valuable AI company misses its own growth targets, which tells us something important about how new industries work.
OPEC Shakeup, Record-Low Confidence, the Fed Decision, and What AI’s Biggest Company Got Wrong
Sources referenced in this episode:
- NPR — UAE leaves OPEC: https://www.npr.org/2026/04/28/nx-s1-5802735/uae-leaves-opec-oil
- CNN — UAE/OPEC live updates + energy minister: https://www.cnn.com/2026/04/28/world/live-news/iran-war-trump-israel
- CNBC — Oil prices / market data: https://www.cnbc.com/2026/04/28/openai-reportedly-missed-revenue-targets-shares-of-oracle-and-these-chip-stocks-are-falling.html
- AAA — National gas prices: https://gasprices.aaa.com/
- CNBC — Consumer sentiment / inflation expectations: https://www.cnbc.com/2026/04/10/consumer-sentiment-inflation-fears-iran-war.html
- WSJ / Yahoo Finance — OpenAI missed targets: https://finance.yahoo.com/markets/stocks/articles/openai-misses-revenue-user-growth-144605121.html
- Federal Reserve — FOMC calendar: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
- CNBC — Fed decision / 8-4 split / Powell presser: https://www.cnbc.com/2026/04/29/fed-interest-rate-decision-april-2026.htm
- NBC News — Powell staying on as governor: https://www.nbcnews.com/business/economy/powell-fed-meeting-interest-rates-rcna342520
- CNBC — OpenAI $122B funding round close: https://www.cnbc.com/2026/03/31/openai-funding-round-ipo.html
New episodes every Wednesday.