UAE To leave OPEC in days amid global oil crisis

The United Arab Emirates has announced plans to leave the world’s leading oil exporters group, the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, on May 1.

The abrupt decision by the Gulf state – which had been a member of OPEC for six decades – reflects an intensified rivalry with Saudi Arabia and current pressures from the Iran war on Gulf countries exporting oil. 

“This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets,” the UAE said, according to The Associated Press. 

The decision comes at a time of crisis for the global energy market as the Iran war has hampered the flow of tankers through the critical Strait of Hormuz, through which around a fifth of the world’s oil passes

This is a breaking story. More to follow.

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This story was originally published April 28, 2026 at 5:53 AM.