The UAE’s exit from OPEC marks a big blow to oil cartel’s price-setting power. Will Venezuela be next out the door?
The United Arab Emirates is leaving OPEC after nearly 60 years, marking a significant challenge to the cartel's cohesion and Saudi-led production controls. The UAE's decision stems from frustration over production quotas that limit its output despite having substantial spare capacity. This exit could shift global oil dynamics, potentially increasing UAE production and benefiting countries like the United States seeking lower energy prices.
- ▪The UAE is the world’s seventh-largest oil producer and has a sustainable production capacity of 4.85 million barrels per day.
- ▪Under OPEC quotas, the UAE’s production is capped at 3.4 million barrels per day, about 30% below its capacity.
- ▪The UAE cited national interest and a review of its production policy as reasons for leaving OPEC, effective May 1.
- ▪Tensions with Saudi Arabia and lack of regional military support during attacks on UAE infrastructure contributed to the decision to exit.
- ▪Former OPEC members like Angola and Ecuador also left due to restrictive production quotas limiting their revenue.
The Globe and Mail publishes from Canada and files mainly under world. We currently carry 1,935 of its stories.
Story provenance
Source · retrieval · rights · ranking — open for full record
inspect →
Story provenance
Attribution is not the same as permission. This drawer separates discovery metadata, excerpts, WeSearch-generated summaries, reuse status, and whether the publisher receives the visit. Nothing here claims a legal grant the publisher has not made.
Record
| Original publisher | The Globe and Mail |
| Canonical URL | https://www.theglobeandmail.com/business/commentary/article-uae-exit-opec-venezuela/ |
| Publication time | Tue, 28 Apr 2026 19:20:19 +0000 |
| Retrieval time | 2026-04-28T19:27:21.969Z |
| Last seen | 2026-04-28T19:27:21.969Z |
| Headline source | Publisher (no WeSearch rewrite) |
| Excerpt source | publisher body |
| Excerpt method | First ~120 words (~800 chars) of extracted publisher body, fair-use limited. |
| Summary | WeSearch · cerebras-chat (WeSearch summarizer) |
| Summary source text | contentText |
| Citation coverage | Summary is a WeSearch-generated derivative; primary citation is the original publisher URL. |
| Cluster | Z749DfLJbhKz |
| Cluster logic | Grouped by semantic title/content similarity across sources within a rolling window. Same-publisher template collisions are excluded from coverage comparison. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
| Substitutes article? | No — link-out required for full text |
Rights status (four layers)
WeSearch handling by dimension
| Indexing | May the item be indexed (stored, ranked, made findable)? | Allowed |
| Snippet | May a short excerpt of the publisher's text be shown? | Allowed |
| AI summary | May WeSearch generate its own short summary of the article? | Limited |
| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
| Model training | May the content be used to train AI models? | Not asserted |
| Commercial reuse | May the content be reused commercially? | Not permitted |
Basis: Derived from the published RSS/Atom feed. Contact: [email protected]. Reviewed: 2026-07-24.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:The UAE has sustainable production capacity of 4.85 million barrels a day, but under OPEC, it’s capped at 3.4 million – 30 per cent below its capacity.Lisa Leutner/The Associated PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThe incredible shrinking OPEC oil cartel shrank again on Tuesday when the United Arab Emirates called it quits after almost 60 years of membership. The exit of the world’s seventh-largest oil producer is a blow to OPEC and its taskmaster, Saudi Arabia, and a gift to U.S. President Donald Trump, who has long decried the group’s price-setting power.The UAE is leaving on May 1. It gave only nebulous reasons for waving goodbye.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
Discussion
0 commentsMore from The Globe and Mail
