BBC News4/29/2026Business
UAE's OPEC Exit: The Beginning of the End?
Five charts explaining how OPEC influences oil prices and what the UAE's departure could mean
Quick Look
- The UAE plans to leave OPEC, with analysts describing it as "the beginning of the end" for the oil producers' group.
- The departure comes amid significant oil market volatility, with the US-Israel war with Iran triggering the biggest loss of oil supply on record.
- The UAE is the world's third biggest oil exporter and OPEC's fourth biggest producer at 3.1 million barrels per day.
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The UAE plans to leave OPEC, with analysts describing it as "the beginning of the end" for the oil producers' group. The departure comes amid significant oil market volatility, with the US-Israel war with Iran triggering the biggest loss of oil supply on record. The UAE is the world's third biggest oil exporter and OPEC's fourth biggest producer at 3.1 million barrels per day.
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This article was originally published by BBC News.
