Explore

United Arab Emirates says it will leave OPEC, a blow to the oil cartel

United Arab Emirates says it will leave OPEC, a blow to the oil cartel

The United Arab Emirates announced that it will leave OPEC effective May 1, stripping the oil cartel of one of its largest producers and further weakening its leverage over global oil supplies and prices

United Arab Emirates will leave OPEC in a blow to the oil cartel

United Arab Emirates will leave OPEC in a blow to the oil cartel

The United Arab Emirates will leave OPEC effective Friday, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices

United Arab Emirates Announces Departure from OPEC, Impacting Global Oil Markets

United Arab Emirates Announces Departure from OPEC, Impacting Global Oil Markets

The United Arab Emirates (UAE) has declared its intention to exit the Organization of the Petroleum Exporting Countries (OPEC) effective May 1. This decision, announced via the state-run WAM news agency, comes as the UAE seeks to pursue its own strategic and economic vision, which includes increased investment in domestic energy production. The UAE's departure from OPEC, a group it joined in 1967 through Abu Dhabi, reflects growing tensions with Saudi Arabia, particularly over production restrictions and regional economic competition. The UAE plans to continue contributing to global energy markets responsibly, adjusting its production in line with market demands.

Analysis-UAE exit weakens OPEC+ power over oil market but group to stay together, sources say

Analysis-UAE exit weakens OPEC+ power over oil market but group to stay together, sources say

By Dmitry Zhdannikov, Alex Lawler and Ahmad Ghaddar LONDON, April 28 (Reuters) - OPEC and its allies will lose some of their power over the oil market when the United Arab Emirates leaves the group on May 1, but the rest of the producer alliance is likely to stick together and continue to coordinate

United Arab Emirates Announces Departure from OPEC, Impacting Global Oil Dynamics

United Arab Emirates Announces Departure from OPEC, Impacting Global Oil Dynamics

The United Arab Emirates (UAE) has declared its intention to exit the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ group effective May 1, 2026. This decision comes amid growing tensions with Saudi Arabia over production quotas and regional political dynamics. The UAE, a significant oil producer, has been part of OPEC since 1967 through Abu Dhabi and later as a nation. The move is seen as a strategic shift to allow the UAE to increase its oil production independently, aligning with its long-term economic vision. The UAE's departure follows similar actions by Qatar in 2019 and reflects a broader trend of loosening ties within OPEC.

UAE's Exit from OPEC Signals Shift in Global Oil Dynamics Amid Crisis

UAE's Exit from OPEC Signals Shift in Global Oil Dynamics Amid Crisis

The United Arab Emirates (UAE) has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ effective May 1. This move marks a significant shift in the global oil landscape, as the UAE has been a member of OPEC for six decades. The decision is attributed to growing tensions with Saudi Arabia and the ongoing Iran war, which has disrupted oil transport through the Strait of Hormuz. The UAE's departure reflects its strategic and economic vision to enhance domestic energy production and maintain a reliable role in global energy markets.

United Arab Emirates to Exit OPEC, Signaling Strategic Shift in Energy Policy

United Arab Emirates to Exit OPEC, Signaling Strategic Shift in Energy Policy

The United Arab Emirates (UAE) has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) effective May 1. This decision was communicated through the UAE's state-run WAM news agency. The UAE's departure from OPEC is part of its long-term strategic and economic vision, which includes an evolving energy profile and increased investment in domestic energy production. The move is also seen as a step towards reinforcing the UAE's commitment to playing a responsible and forward-looking role in global energy markets. The decision comes amid growing tensions with Saudi Arabia over economic issues and the ongoing conflict in Yemen against Iran-backed Houthi rebels.

Explainer-What is OPEC+ and how does it affect oil prices?

Explainer-What is OPEC+ and how does it affect oil prices?

LONDON, April 28 (Reuters) - The United Arab Emirates, one of OPEC+'s largest producers, will leave the oil producers' alliance on May 1, it said on Tuesday. The Organization of the Petroleum Exporting Countries and allies, including Russia, are known collectively as OPEC+.

The Latest: United Arab Emirates says it will exit OPEC, while US-Iran negotiations stall

The Latest: United Arab Emirates says it will exit OPEC, while US-Iran negotiations stall

The United Arab Emirates has announced it will leave OPEC and the OPEC+ group, effective May 1

UAE's OPEC Exit: A Strategic Shift Amidst Global Energy Crisis

UAE's OPEC Exit: A Strategic Shift Amidst Global Energy Crisis

The United Arab Emirates (UAE) has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and its extended group, OPEC+, effective May 1. This decision comes during an unprecedented energy crisis triggered by the Iran war, which has disrupted oil exports through the Strait of Hormuz. The UAE's Energy Minister, Suhail Mohamed al-Mazrouei, stated that the decision was made after careful consideration of the country's energy strategies. The UAE's departure is expected to weaken OPEC's influence, as the group has historically relied on a united front to manage global oil prices.

UAE's Exit from OPEC and OPEC+ Signals Shift in Global Oil Dynamics Amid Iran Conflict

UAE's Exit from OPEC and OPEC+ Signals Shift in Global Oil Dynamics Amid Iran Conflict

The United Arab Emirates (UAE) has announced its decision to leave OPEC and OPEC+, a move that could significantly impact the global oil market. This decision comes amid the ongoing conflict in Iran, which has already caused disruptions in oil supply through the Strait of Hormuz. The UAE's departure from the oil-exporting groups is seen as a strategic move to focus on its national interests and gain more flexibility in its energy policies. The exit could weaken OPEC's influence and create uncertainty in the global oil market, especially as the group has traditionally aimed to present a united front despite internal disagreements.

UAE reviewing multilateral ties after OPEC exit but rules out more departures, official says

UAE reviewing multilateral ties after OPEC exit but rules out more departures, official says

DUBAI, April 29 (Reuters) - The United Arab Emirates is reassessing its role and contributions across multilateral organisations but is not considering any further withdrawals at this time, a UAE official told Reuters on Wednesday, a day after Abu Dhabi announced its withdrawal from OPEC.