US EditionUAE Quits Opec in Shock Move, Rattles Global Oil Markets and Challenges Saudi Dominance
Unverified reports of a UAE exit from OPEC rattled traders as analysts warned that even rumors can move Brent crude within hours.
- On Tuesday, April 28, the United Arab Emirates announced it will leave OPEC effective May 1, with Energy Minister Suhail Mohamed al‑Mazrouei stating the move aims to align production with rising global energy demand.
- Rising friction between Abu Dhabi and Riyadh over production quotas and regional strategy drove the decision, as the UAE seeks to increase capacity to 5 million barrels per day by 2027 under OPEC's constraints.
- Recent Iranian attacks damaged major UAE facilities, accelerating the exit; Steve H. Hanke, professor of applied economics at Johns Hopkins University, states the war makes "take the money and run" the UAE's priority.
- Global markets reacted with volatility as analysts warn the exit weakens the Saudi Arabia-led OPEC+ alliance and threatens the cartel's control over crude prices, given the UAE's approximately 12% output share.
- This shift positions the UAE to pursue its own strategic energy vision as oil consumption is expected to peak in coming decades, accelerating investments in domestic production and sustainable technologies.
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26 Articles
Madison Courier
The Daily SentinelTrump cheers UAE plan to exit OPEC as 'great,' says move could help calm volatile oil market shaken by Iran war
Trump cheers UAE plan to exit OPEC as 'great,' says move could help calm volatile oil market shaken by Iran war.
UAE quits OPEC, eroding oil cartel’s leverage
What happenedThe United Arab Emirates on Tuesday announced it was withdrawing from OPEC and Russian-led OPEC+ on Friday, weakening the oil cartel’s leverage to set and stabilize oil prices. The UAE, which joined OPEC in 1967, is the cartel’s third-biggest oil producer, behind Saudi Arabia and Iran. Who said whatThe UAE’s exit “had been rumored as a possibility for some time, as it pushed back in recent years” against production limits enforced b…
The UAE took the American side: Is it time for Russia to prepare for the collapse of OPEC?
The UAE is withdrawing from OPEC and OPEC+. This is not the first country that has left the cartel in recent years and is going to become an independent player. But the largest of them can make a storm and even the collapse of OPEC.
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