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Commodities Buzz: UAE leaves OPEC after decades, citing strategic flexibility
30-Apr-2026 11:03
The United Arab Emirates (UAE) has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC), with the exit set to take effect on May 1, 2026. The move marks a major shift in global energy dynamics, as the UAE is one of OPEC's largest oil producers. Officials said the decision reflects the country's long-term strategic and economic priorities, allowing it greater flexibility to increase oil production beyond OPEC quotas. The departure comes amid rising geopolitical tensions and disagreements within OPEC, particularly over production limits and regional leadership. The exit could weaken OPEC's influence over global oil markets and potentially reshape supply dynamics in the coming years. The UAE has been a member of OPEC for nearly six decades, and its withdrawal is seen as one of the most significant changes to the group in recent years.

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