United Arab Emirates announces withdrawal from OPEC and OPEC+

On April 28, 2026, the United Arab Emirates announced its decision to withdraw from OPEC and OPEC+, effective May 1. UAE Energy Minister Suhail Mohammed al-Mazrouei stated that the move followed a thorough review of national energy strategies and asserted that it was a political decision made without external consultation. This exit represents a significant challenge to the influence of Saudi Arabia, the de facto leader of the organization. The decision occurs during a period of global economic volatility exacerbated by the ongoing war in Iran, which has threatened oil shipments through the Strait of Hormuz, a critical passage for roughly 20% of global oil and LNG supply. Analysts view the withdrawal as a political victory for U.S. President Donald Trump, who has frequently criticized the cartel for maintaining high oil prices. Additionally, the move reflects Abu Dhabi's dissatisfaction with regional allies regarding their perceived lack of support against Iranian attacks. While the UAE government downplayed the potential immediate market impact, experts warn that the departure could weaken OPEC's internal unity and complicate future production quota agreements.