UAE leaves OPEC and OPEC+ in huge blow to global oil producers' group
The United Arab Emirates has announced its departure from OPEC and OPEC+, significantly impacting the oil producers' group. This decision comes amid ongoing tensions in the region due to the Iran war, which has created an energy crisis. The UAE's exit may lead to further disarray within OPEC and weaken its collective influence.
- ▪The UAE quit OPEC and OPEC+, marking a significant shift in the oil exporting group's dynamics.
- ▪This exit comes during a period of heightened tensions due to the Iran war, affecting global oil supply.
- ▪U.S. President Donald Trump has criticized OPEC for high oil prices, viewing the UAE's departure as a potential victory.
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The United Arab Emirates said on Tuesday (April 28, 2026) it quit Organisation of the Petroleum Exporting Countries (OPEC) and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran war has caused a historic energy shock and unsettled the global economy.The stunning loss of the UAE, a longstanding OPEC member, could create disarray and weaken the group, which has usually sought to show a united front despite internal disagreements over a range of issues from geopolitics to production quotas. OPEC+ may consider larger oil output boost, sources say after Israel-U.S.
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