United Arab Emirates announces its exit from OPEC and OPEC+...

United Arab Emirates announces its exit from OPEC and OPEC+ today, ending nearly six decades of membership and marking a major shift in global energy dynamics. As OPEC’s third-largest producer, the UAE seeks greater control over its oil output after years of frustration with production quotas that limited its expanded capacity. The move also reflects growing geopolitical differences with Saudi Arabia, particularly on regional strategy and market control. Additionally, the UAE aims to maximize revenues amid the global energy transition and rising geopolitical risks linked to the Iran conflict, signaling a more independent and market-driven oil policy.

Friday, 1 May, 2026