April 28, 2026
The United Arab Emirates has announced it will withdraw from OPEC and the OPEC+ oil cartels as the Iran war triggers a historic energy shock and unsettles the global economy.
State media said the exit, effective May 1, reflects the UAE’s long-term strategic and economic priorities amid persistent volatility in oil markets driven by the conflict.
The move is a major blow to the oil-producing groups and their de facto leader, Saudi Arabia. Image: Barbara Gindl/dpa/picture alliance
https://p.dw.com/p/5Cx2h
This is a breaking story that will be updated…