📰 UAE Announces Withdrawal from OPEC and OPEC+, Shaking Global Oil Markets
The United Arab Emirates officially announced on April 28, 2026, through state media that it will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and its broader alliance OPEC+, effective May 1. This marks the most significant member departure since OPEC’s founding in 1960 and carries profound implications for global energy markets and geopolitical dynamics.
The UAE stated that the withdrawal decision was driven by “national interests.” Multiple news outlets report that the UAE plans to gradually increase its crude oil production, freeing itself from OPEC+ output quotas. As OPEC’s third-largest producer with approximately 3 million barrels per day, the UAE’s departure will significantly weaken OPEC+’s grip on global oil supply.
The announcement comes against the backdrop of an escalating Iran war and heightened tensions in the Strait of Hormuz. CNN described the UAE’s exit as “a major blow to the world’s leading oil exporters group.” The Guardian noted it represents “a win for Trump as the oil cartel is weakened.”
Energy analysts warn the move could trigger a cascade effect. With the Iran war intensifying uncertainty around Middle Eastern energy supplies, other OPEC members may also reassess their positions within the alliance. Oil markets reacted swiftly to the news, with international crude prices surging and energy stocks outperforming on Wall Street.
OPEC+, established in 2016, has served as the most critical coordination mechanism in the global crude market. The UAE’s departure not only strips the organization of a major producer but also threatens to erode trust within the alliance, making future production coordination increasingly difficult.
Source: Reuters, Al Jazeera, CNN