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UAE to Exit OPEC+ 2026, Trump Hails Cartel Blow

4/29/2026

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Summary

Story summary

UAE Energy Minister Suhail Mohamed al-Mazrouei said the United Arab Emirates will exit OPEC and OPEC+ on May 1, 2026.
The exit aligns with the Iran-Iran war-induced Strait of Hormuz closure, which officials say limits immediate market disruption.
Analysts warn the UAE’s 12 % OPEC share could weaken the cartel’s long-term price-setting ability, echoed by U.S. President Donald Trump who welcomed the move as a blow to the organization he criticizes.

History

Historical Context

The 1973 OAPEC oil embargo, which lifted posted prices from $3 to $12 per barrel, showed how Arab producers could wield oil as a political weapon. OPEC later saw its market share drop from about 50 % in 1979 to under 30 % by 1985, prompting occasional member exits such as Indonesia in 2008. The UAE’s planned 2026 departure recalls these historic shifts.

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Story summary

UAE Energy Minister Suhail Mohamed al-Mazrouei said the United Arab Emirates will exit OPEC and OPEC+ on May 1, 2026.
The exit aligns with the Iran-Iran war-induced Strait of Hormuz closure, which officials say limits immediate market disruption.
Analysts warn the UAE’s 12 % OPEC share could weaken the cartel’s long-term price-setting ability, echoed by U.S. President Donald Trump who welcomed the move as a blow to the organization he criticizes.

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