CNBC4/29/2026Politics
Trump Praises UAE Exit from OPEC, Calls Iranian Port Blockade 'Genius'
President Trump voiced strong support for the UAE's decision to leave OPEC, saying it will help lower energy prices, as the US maintains its blockade on Iranian ports
Quick Look
- President Trump expressed support for the UAE's decision to exit OPEC on May 1, calling it 'great' for lowering gas and oil prices.
- The surprise announcement marks a blow to OPEC, which has coordinated oil policy for over six decades.
- Trump also defended his administration's blockade of Iranian ports as 'genius' and '100% foolproof,' warning Iran must 'cry uncle' before negotiations can resume.
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President Trump expressed support for the UAE's decision to exit OPEC on May 1, calling it 'great' for lowering gas and oil prices. The surprise announcement marks a blow to OPEC, which has coordinated oil policy for over six decades. Trump also defended his administration's blockade of Iranian ports as 'genius' and '100% foolproof,' warning Iran must 'cry uncle' before negotiations can resume. The UAE has faced Iranian attacks and Strait of Hormuz restrictions since the US-Israel war with Iran began Feb. 28.
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This article was originally published by CNBC.
