Event Overview
United Arab Emirates to quit oil cartel Opec
The United Arab Emirates (UAE) announced it will leave the OPEC and OPEC+ groups, effective May 1, after nearly 60 years of membership. The UAE cited national interests and the need to boost production capacity to meet global energy demand as reasons for its departure. This decision comes amid heightened tensions in the region due to the Iran war, which has contributed to significant fluctuations in oil prices. The UAE was the third-largest oil producer in OPEC, following Saudi Arabia and Iraq.
The UAE's exit from OPEC may lead to increased oil production, impacting global oil supply and prices, particularly as tensions in the region continue to affect market stability, as noted by NBC News.
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BBC News
8/10Factual: high · Credibility: high
ABC News
8/10Factual: high · Credibility: high
NBC News
7/10Factual: mostly-factual · Credibility: high
CNBC
7/10Factual: mostly-factual · Credibility: high
Al Jazeera
5/10Factual: mixed · Credibility: medium
Associated Press
9/10Factual: very-high · Credibility: high
United Arab Emirates to quit oil cartel Opec
The United Arab Emirates (UAE) is quitting the Opec and Opec+ groups of major oil producing nations next month after nearly 60 years of membership. The UAE said its decision would help it meet growing global energy demand in the long term after recent investments to boost its production capacity. It is seen as a blow.
United Arab Emirates says it will leave OPEC
The move comes amid regional fallout from the Iran war. The United Arab Emirates on Tuesday said it would leave the Organization of the Petroleum Exporting Countries (OPEC) next month. The move comes amid regional fallout in the Gulf amid the Iran war, which has triggered one of the worst oil shocks in history. The.
United Arab Emirates quits OPEC as Iran war raises gulf tensions
The United Arab Emirates said Tuesday that it would leave OPEC, the Organization of the Petroleum Exporting Countries, which coordinates oil output among leading energy producing nations. The departure from OPEC will likely lead the UAE to boosting energy output. Although with the Strait of Hormuz closed, it's not.
United Arab Emirates leaving OPEC, effective May 1
The UAE said it decided leaving OPEC was in its national interest after reviewing its production policy and capacity.
UAE leaves OPEC and OPEC+
The United Arab Emirates (UAE) has announced its decision to quit OPEC and OPEC+ to focus on “national interests”, dealing a heavy blow to the oil-exporting groups at a time when the US-Israel war on Iran has caused a historic energy shock and rattled the global economy. The move, which will take effective on May.
US stocks inch to more records as oil prices rise ahead of a blockbuster week for Wall Street
Trader Thomas Ferrigno, left, and specialist Dilip Patel work on the floor of the New York Stock Exchange, Thursday, April 23, 2026. (AP Photo/Richard Drew) NEW YORK (AP) — The U.S. stock market’s record-breaking rally slowed on Monday after uncertainty rose over the weekend about what will happen next in the Iran war.