World News • Emmanuel Onyemaechi • 29 April, 2026
» Updated -6011 seconds ago
UAE Quits OPEC and OPEC+ in Surprise Move Amid Iran Conflict
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The United Arab Emirates has announced its withdrawal from OPEC and the broader OPEC+ alliance, effective May 1, 2026, delivering a significant blow to the oil-producing cartel at a time of heightened global energy instability caused by the ongoing war involving Iran.
In a statement, the UAE cited a strategic review of its long-term national interests, energy policy, and the need for greater flexibility in oil production and investment amid market volatility. The decision comes as Gulf producers face challenges shipping exports through the Strait of Hormuz due to regional tensions.
Analysts view the exit as weakening OPEC+'s ability to coordinate production cuts and stabilize prices, especially with Saudi Arabia losing a key partner. The UAE, one of OPEC's major producers, has long pushed for higher output quotas. The move is seen by some as prioritizing independent energy strategy over collective cartel discipline during the current energy shock
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