The United Arab Emirates has officially announced it is leaving OPEC (and OPEC+) after decades of membership. The withdrawal is expected to take effect around May 1, 2026.
The decision follows a review of the UAE’s energy strategy and production policy. It comes amid major geopolitical tensions, especially the Iran conflict and disruptions in the Strait of Hormuz.
The UAE wants greater freedom to increase oil production, rather than being constrained by OPEC quotas. Analysts say the move is a significant blow to OPEC’s unity and influence in global oil markets.
OPEC may become weaker in controlling oil supply and prices. The UAE can produce more oil independently. It could lead to more volatility in global energy markets