Vaccines: Data from the UK adds to the mounting evidence from around the world: the vaccines are working

3/2/21 7:00PM

The latest data out of the UK is increasingly positive for the efficacy of the COVID-19 vaccines — as the number of hospital admissions and deaths for those aged 85+ appears to be falling faster than for any other group in England.

Hospital admissions in England peaked about a week after the UK went into its third lockdown, and have been steadily falling ever since. The rate of weekly hospital admissions is now down 71% for the 18-64 age bracket, but is down 80% for the 85+ age bracket — which were the among the first group in the UK to be offered the vaccine.

Although it's extremely early days to say anything too definitive, the early evidence is promising, particularly when combined with data out yesterday that showed the Pfizer vaccine was associated with an 83% reduction in deaths from COVID-19 — adding to similar earlier evidence from Israel's programme.

‍How this data evolves over the next few months is going to be the focus of many a study, as immune responses are estimated to take hold after a few weeks of receiving a dose, and because the 85+ cohort in England have still mostly only had one dose of the vaccine so far. Light at the end of the tunnel.

Jake Lahut

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The UAE’s OPEC exit will hit the group in the barrels

After just shy of 60 years in OPEC, its membership even predating its status as a nation-state, the United Arab Emirates yesterday announced its shocking departure from the oil production group, effective May 1, as the knock-on effects of the Iran war continue to play out across the Middle East and the energy landscape.

For context, the UAE produces the third-highest amount of oil in the group, per April data and OPEC’s latest set of annual statistics.

According to the cartel’s 2025 Annual Statistical Bulletin, the OPEC group was collectively exporting some 19 million barrels of crude oil a day last year, with the United Arab Emirates accounting for some 14% of that daily output.

UAExit means UAExit

The nation, whose energy minister told Reuters yesterday that the decision was taken “after a careful look at current and future policies related to level of production” and wasn’t made following discussions with any other country, made up a healthy share of the group’s total confirmed crude oil reserves, as well.

Of the 12 nations in the core group, which was founded by just five oil superpowers back in September 1960, only two (Iraq and Saudi Arabia) exported more barrels of crude oil daily, pumping out 3.36 million and 6.05 million barrels, respectively, each day to nations around the world.

For its part, the UAE said it will “continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions,” per the official state news agency. Clearly, the nation now wants a little more control of just how much oil it can pump around the world, with the UAE having to eat a large proportion of lost revenues due to its healthy abundance and OPEC restrictions.