Event Overview
The UAE's shock OPEC exit is not without precedence. Who could be next?
The United Arab Emirates will exit OPEC effective May 1, 2026, a move that will remove the third-largest producer from the cartel, diminishing its influence over global oil supplies and prices. This decision has raised concerns about potential shifts in the oil market, particularly amid ongoing turmoil related to the Iran war. The UAE's production capacity exceeds 5 million barrels per day, while OPEC quotas limited it to 3.2 million barrels (CNN, AP).
The UAE's departure from OPEC is expected to weaken the cartel's control over global oil prices, potentially leading to increased volatility in energy markets (AP).
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The UAE's shock OPEC exit is not without precedence. Who could be next?
The United Arab Emirates' decision to leave OPEC is reverberating across global energy markets, sparking questions on who else could follow.
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.
UAE quits OPEC in blow to cartel that could reshape global oil markets
The United Arab Emirates will leave OPEC, a decades-old cartel of the world’s top oil exporters, delivering a shock that will ripple through global oil markets at a time of unprecedented turmoil caused by the Iran war. The UAE plans to withdraw from the Organization of the Petroleum Exporting Countries , or OPEC, on.