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United Arab Emirates says it will leave OPEC amid energy turmoil
- On Tuesday, the United Arab Emirates announced its withdrawal from the Organisation of the Petroleum Exporting Countries and OPEC+, effective May 1, 2026. The move aims to accelerate domestic energy investment as part of its long-term strategic vision.
- The decision follows decades of cooperation since the UAE joined OPEC in 1971. Diplomatic tensions have risen as Presidential advisor Anwar Gargash criticized Gulf Cooperation Council allies on Monday for their "weak" collective response to Iranian attacks.
- Energy prices jumped as U.S. West Texas Intermediate crude reached nearly $102 per barrel following the announcement. President Donald Trump welcomed the exit, having accused OPEC of "ripping off the rest of the world" by inflating oil prices.
- State-Run news agencies reported that the UAE will continue "bringing additional production to market in a gradual and measured manner." This policy shift addresses long-term economic visions amid ongoing instability in the Strait of Hormuz.
- Threats against vessels in the Strait of Hormuz persist, complicating regional supply dynamics and affecting OPEC Gulf producers. The UAE remains a critical ally for Washington in the Middle East despite these ongoing security challenges.
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The UAE announces its withdrawal from OPEC, marking a break with Saudi Arabia. Jamie Ingram examines the political and strategic consequences.
Coverage Details
Total News Sources654
Leaning Left121Leaning Right108Center137Last UpdatedBias Distribution37% Center
Bias Distribution
- 37% of the sources are Center
37% Center
L 33%
C 37%
R 30%
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