The United Arab Emirates will leave OPEC next month, potentially altering global oil supply dynamics and price stability.
The United Arab Emirates announced its departure from OPEC effective May 1, 2026, marking a significant shift for the 66-year-old oil cartel. OPEC, founded in 1960, coordinates petroleum policies among member countries to influence global crude prices. The UAE’s exit could reduce the group’s collective output and market influence.
OPEC’s current members include Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela. The organization has historically managed supply to stabilize or drive oil prices, but internal disagreements have occasionally strained cohesion. The UAE’s move follows years of tension over production quotas and investment plans.
Markets are monitoring the potential impact on crude supply and pricing, though no immediate reaction was reported. The departure could weaken OPEC’s ability to enforce production cuts or respond to demand fluctuations.