Event Overview
How UAE's exit could affect Opec's influence over the oil price
The United Arab Emirates (UAE) has announced its intention to leave OPEC, effective May 1, 2026. This decision is viewed as a significant blow to the organization, which influences about 40% of global crude oil production and pricing. Analysts have described the UAE's exit as potentially marking "the beginning of the end of OPEC" amid ongoing volatility in the oil market, particularly due to tensions related to the US-Israel conflict with Iran. Sources agree on the implications for OPEC's influence but differ on the broader consequences of this departure.
The UAE's departure from OPEC could significantly diminish the cartel's ability to control oil prices, impacting global energy markets and potentially leading to increased volatility in oil prices, as noted by the Associated Press.
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United Arab Emirates will leave OPEC in a blow to the oil cartel
The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major influence over the price of energy around the globe. This is a locator map for United Arab Emirates with its capital, Abu Dhabi. (AP Photo) The logo.
How UAE's exit could affect Opec's influence over the oil price
The United Arab Emirates' plan to ditch the oil producers' group Opec and strike out alone is being viewed as a huge blow for the organisation, with one analyst describing it as "the beginning of the end of Opec". It comes at a time of significant volatility in the oil market, with the US-Israel war with Iran.
How UAE's exit could affect Opec's influence over the oil price
The United Arab Emirates' plan to ditch the oil producers' group Opec and strike out alone is being viewed as a huge blow for the organisation, with one analyst describing it as "the beginning of the end of Opec". It comes at a time of significant volatility in the oil market, with the US-Israel war with Iran.
United Arab Emirates announces it's leaving OPEC
News United Arab Emirates announces it's leaving OPEC April 29, 2026 10:35 AM ET Heard on Morning Edition By Aya Batrawy , A Martínez UAE OPEC Listen · 3:27 3:27 Transcript Download Embed "> < iframe src="https://www.npr.org/player/embed/nx-s1-5802739/nx-s1-9749339" width="100%" height="290" frameborder="0".