Event Overview
The United Arab Emirates says it's leaving OPEC, in a blow to oil cartel
The United Arab Emirates (UAE) announced it will leave OPEC and OPEC+ effective May 1, 2026. This decision, which ends a membership that began in 1967, is viewed as a significant blow to the oil cartel, weakening its influence over global oil supplies and prices. The UAE is OPEC's third-largest producer. The government cited a desire to focus on national interests amid ongoing tensions in the region, including the Iran conflict, although some sources noted the UAE's frustration with production quotas as a contributing factor.
The UAE's exit from OPEC is expected to weaken the cartel's control over oil prices and supplies, potentially leading to increased volatility in global oil markets, especially amid ongoing geopolitical tensions, as reported by CNN.
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The Hill
8/10Factual: high · Credibility: high
NPR
9/10Factual: very-high · Credibility: high
New York Post
5/10Factual: mixed · Credibility: medium
Washington Times
5/10Factual: mixed · Credibility: medium
France 24
8/10Factual: high · Credibility: high
PBS NewsHour
9/10Factual: very-high · Credibility: high
Wired
8/10Factual: high · Credibility: high
Associated Press
9/10Factual: very-high · Credibility: high
BBC News
8/10Factual: high · Credibility: high
CNN
7/10Factual: mostly-factual · Credibility: medium
UAE announces plans to leave OPEC: State media
The United Arab Emirates (UAE) will leave the Organization of the Petroleum Exporting Countries (OPEC), the country’s government said on Tuesday. The country will officially exit OPEC and its broader OPEC+ association on May 1 following the government’s internal review of its production policy, according to UAE state.
The United Arab Emirates says it's leaving OPEC, in a blow to oil cartel
UAE's Minister of Energy and Industry Suhail al-Mazrouei is shown arriving for an OPEC meeting in Vienna, Austria, on June 4, 2023. Joe Klamar/AFP via Getty Images hide caption Stay up to date with our Up First newsletter sent every weekday morning. The United Arab Emirates has announced that it's leaving OPEC, the.
United Arab Emirates to leave OPEC on May 1 in shocking blow to world’s largest oil cartel amid Iran war
The United Arab Emirates announced Tuesday that it will leave OPEC effective May 1 — a shocking blow to the world’s largest oil cartel as the Iran war threatens global energy supplies. Though the Middle Eastern nation did not give a reason for its exit, some of its oil infrastructure was recently damaged by drone.
UAE says it will leave OPEC in major blow to global oil cartel
The United Arab Emirates announced Tuesday it will leave OPEC , the cartel that organizes production among the world’s largest oil producers, on Friday. The UAE Energy Ministry said the decision aims to speed up investment in its energy sector and address the country’s long-term economic needs. “This decision follows.
UAE to quit global oil cartel OPEC, citing 'national interests'
The United Arab Emirates announced on Tuesday it will quit the global oil cartel OPEC and OPEC+ to focus on "national interests" as energy prices continue to climb amid the ongoing Iran conflict.
United Arab Emirates will leave OPEC on May 1
Jon Gambrell, Associated Press Jon Gambrell, Associated Press DUBAI, United Arab Emirates (AP) — The United Arab Emirates announced Tuesday that it will leave the oil cartel OPEC and its wider OPEC+ group effective May 1, a move rumored for some time as the Emirates chafed under production restrictions and had.
UAE to Exit OPEC After Nearly 60 Years
The United Arab Emirates has announced it will leave OPEC and OPEC+ effective May 1, ending a membership that began in 1967—four years before the UAE was founded as a country. This signals a turning point in the UAE's role in global energy . The government statement, published on state news agency WAM , cited a.
United Arab Emirates says it will leave OPEC in a blow to the oil cartel
This is a locator map for United Arab Emirates with its capital, Abu Dhabi. (AP Photo) The logo of the Organization of the Petroleum Exporting Countries (OPEC) is displayed outside of OPEC’s headquarters in Vienna, Austria, March 3, 2022. (AP Photo/Lisa Leutner, File) DUBAI, United Arab Emirates (AP) — The United Arab.
Faisal Islam: Why the UAE's exit from Opec is a big deal
It is a very big deal that the United Arab Emirates (UAE) has announced its abrupt exit from Opec , the Organisation of Petroleum Exporting Countries. The Emiratis were members even before they became a nation state in 1971. Opec is the organisation of mainly Gulf oil exporters, which for many decades controlled the.
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.