UAE leaves OPEC and OPEC+ in huge blow to global oil producers' group
UAE's exit from OPEC and OPEC+ shakes global oil markets amid rising tensions and Iranian threats during the ongoing war.
Full article excerpt tap to expand
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.
This excerpt is published under fair use for community discussion. Read the full article at The Hindu.
Discussion
0 commentsMore from The Hindu
