AtrásUAE Exits OPEC and OPEC+, Dealing Heavy Blow to Oil Cartel

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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

uae exit opec opec breakup saudi arabia oil

En resumen

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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Tamaño de fuente

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.

Read the full article on Economic Times

Temas relacionados

uae exit opec

Temasopec breakup saudi arabia oil oil prices brent strait of hormuz iran war energy adnoc production

This article was originally published by Economic Times.

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