UAE says it will leave Opec and Opec+ from May 2026

Tuesday, April 28, 2026Business & MarketsWell-covered3 frames

The UAE has announced that it will leave both Opec and Opec+, with the decision taking effect on May 1, 2026.
The UAE has been an Opec member since 1967, meaning its departure ends nearly 60 years of membership.
The UAE said its exit reflects a long-term strategic and economic vision and follows a review of its production policy, current capacity, and future energy plans.
Opec is a group of oil-producing countries that coordinates production among members to help manage supply and influence oil markets.
The UAE has sought greater flexibility over oil output and has pushed back against Opec production quotas in recent years.
The UAE is one of Opec's larger producers, so its departure could affect the group's ability to coordinate supply and shape global oil prices.
The announcement comes during a wider Middle East energy disruption linked in multiple reports to the Iran war and shipping problems around the Strait of Hormuz, which are also influencing oil prices.
It remains uncertain whether any increase in UAE production after leaving Opec will quickly lower oil prices, because analysts cited in reports say regional supply disruptions and shipping risks are still major market drivers.

The UAE has announced that it will leave both Opec and Opec+, with the decision taking effect on May 1, 2026.
The UAE has been an Opec member since 1967, meaning its departure ends nearly 60 years of membership.
The UAE said its exit reflects a long-term strategic and economic vision and follows a review of its production policy, current capacity, and future energy plans.
Opec is a group of oil-producing countries that coordinates production among members to help manage supply and influence oil markets.
The UAE has sought greater flexibility over oil output and has pushed back against Opec production quotas in recent years.
The UAE is one of Opec's larger producers, so its departure could affect the group's ability to coordinate supply and shape global oil prices.
The announcement comes during a wider Middle East energy disruption linked in multiple reports to the Iran war and shipping problems around the Strait of Hormuz, which are also influencing oil prices.
It remains uncertain whether any increase in UAE production after leaving Opec will quickly lower oil prices, because analysts cited in reports say regional supply disruptions and shipping risks are still major market drivers.