April 28, 2026
The United Arab Emirates has announced it will withdraw from OPEC and the OPEC+ alliance, with the exit set to take effect on May 1. State media said the decision reflects the UAE’s long-term strategic and economic priorities amid persistent volatility in oil markets triggered by the Iran war, which has produced a historic energy shock and unsettled the global economy.
The move is a significant setback for the oil-producing group and its de facto leader, Saudi Arabia, at a time when coordination among producers is being tested by supply disruptions and price volatility. Officials provided limited detail in the initial statement; the announcement did not outline immediate changes to UAE production levels or future cooperation arrangements.
Observers say the departure could alter regional dynamics and the mechanics of OPEC+ decision-making, with potential implications for producers and consumers worldwide. Markets and policymakers are expected to monitor responses from other member states closely.
This is a breaking story that will be updated as more information becomes available.