Economic Times29.4.2026EnergyIndia
UAE Exits OPEC and OPEC+, Dealing Heavy Blow to Oil Cartel
Decision marks strategic shift amid Iran war, threatens OPEC cohesion and Saudi Arabia's market influence
Auf einen Blick
- The United Arab Emirates has quit OPEC and OPEC+, delivering a significant blow to the oil cartel and its de facto leader Saudi Arabia.
- The UAE, a member since 1967, called the decision aligned with national interests amid the Iran war and global energy shocks.
- Oil prices rose over 3% on Tuesday as the Strait of Hormuz remains constrained.
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Schriftgröße
The United Arab Emirates has quit OPEC and OPEC+, delivering a significant blow to the oil cartel and its de facto leader Saudi Arabia. The UAE, a member since 1967, called the decision aligned with national interests amid the Iran war and global energy shocks. Oil prices rose over 3% on Tuesday as the Strait of Hormuz remains constrained. Analysts warn of a structurally weaker OPEC and potentially more volatile oil market, while the move represents a win for U.S. President Trump who criticized the cartel.
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This article was originally published by Economic Times.
