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166 new news items in the last 24 hours
  1. Home
  2. Economie

The United Arab Emirates announced that they are leaving OPEC on May 1

Nicoleta Onofrei
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28 April 2026, 13:53
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International
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The United Arab Emirates announced on Tuesday that they are withdrawing from the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, delivering a heavy blow to oil-exporting groups, at a time when the war in Iran has caused a historic energy shock and disrupted the global economy, reports Reuters, New York Times, and Al Jazeera.

"This decision comes after a comprehensive review of the United Arab Emirates' production policy and its current and future capacity and is based on our national interest and our commitment to effectively contribute to meeting the pressing needs of the market," said the UAE Ministry of Energy in a statement.

According to CNBC, the United Arab Emirates was the third largest producer in OPEC in February, after Saudi Arabia and Iraq. They joined OPEC in 1967, seven years after the organization was established.

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Antena3
Lovitură uriașă pe piața petrolului: Emiratele Arabe Unite se retrag din OPEC și OPEC+. "O victorie pentru Donald Trump"
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NBC News
United Arab Emirates quits OPEC as Iran war raises gulf tensions
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Al Jazeera
UAE leaves OPEC and OPEC+

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NEWS ON THE SAME TOPICS

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International
The United Arab Emirates supports that leaving OPEC is a 'sovereign and strategic' decision. The Minister of Energy emphasized that the withdrawal does not reflect political tensions.
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The United Arab Emirates announces that they will produce oil without restrictions after exiting OPEC.
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Opinions
Why the UAE's exit from OPEC represents a moment of truth for Europe
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OPEC+ will increase oil production by 188,000 barrels per day starting in June, following a videoconference. The seven participating countries are monitoring market conditions.
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The United Arab Emirates announces the completion of a new pipeline that will bypass the Strait of Hormuz, ensuring oil exports. The project will double export capacity and will begin transportation by 2027.
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The prices of oil have dropped on Monday, after OPEC+ decided to increase production by 188,000 bpd starting in August. Exports from the Gulf are recovering.
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United Arab Emirates OPEC petrol

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