The United Arab Emirates has announced it will exit the Organization of the Petroleum Exporting Countries (OPEC) effective May 1, delivering a setback to the oil producers’ group, according to official statements.
United Arab Emirates leaving OPEC, effective May 1 https://t.co/6b4d1tEhgg
— CNBC (@CNBC) April 28, 2026
The move follows weeks of missile and drone attacks by Iran and ongoing disruptions caused by Tehran’s blockade of the Strait of Hormuz, which has constrained the UAE’s oil exports. The report said these pressures have raised concerns over the country’s economic stability.
The UAE energy ministry said the decision came after a review of production strategy and future capacity, emphasizing national interest.
The UAE was OPEC’s third-largest producer and has been a member since 1967.
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