The United Arab Emirates announced Tuesday that as of Friday it is quitting OPEC, adding uncertainty to the global oil markets.
The UAE, one of 12 OPEC members, was hammered by Iran during the war that is currently on pause. As noted byCNBC, the UAE has also been impacted by Iran’s closure of the Strait of Hormuz.
The nation was the third-largest OPEC producer as of February after Saudi Arabia and Iraq. It has been part of OPEC since 1967.
The UAE’s action came asoil was tradingat just under $100 per barrel after surpassing the threshold earlier.
UAE quits OPEC, a major blow to world’s biggest oil exporters and leading member Saudi Arabia as Iran war roils global energy markets.https://t.co/bXf84YxXJMpic.twitter.com/MhXwy2OOGK
— CNN Breaking News (@cnnbrk)April 28, 2026
“The United Arab Emirates today announced its decision to exit the Organization of the Petroleum Exporting Countries (OPEC and OPEC+), effective 1 May 2026. This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets,” the nation’s official news outletreported.
“This decision follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on our national interest and our commitment to contributing effectively to meeting the market’s pressing needs,” the release said.
The UAE has played with the idea of leaving OPEC since 2020
The rift with Saudi Arabia further contributes to this decision trying to wean off Saudi influence as the UAE is trying to go it alone feeling their voice was no longer effectively heard
Source: VidNews » Feed
