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UAE to Exit OPEC 2026, Raise Production to 5 M bpd

5/1/2026

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Summary

Story summary

UAE will leave OPEC and OPEC+ on May 1, 2026.
The move follows dissatisfaction with OPEC quotas and a plan to raise output to about 5 million barrels per day.
UAE says the exit lets it respond to market dynamics, diversify revenue and offset Iran-related disruptions, including the Strait of Hormuz blockade.
Analysts warn the departure could weaken OPEC coordination, add barrels to supply and modestly lower crude prices, aiding importers like India.

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Story summary

UAE will leave OPEC and OPEC+ on May 1, 2026.
The move follows dissatisfaction with OPEC quotas and a plan to raise output to about 5 million barrels per day.
UAE says the exit lets it respond to market dynamics, diversify revenue and offset Iran-related disruptions, including the Strait of Hormuz blockade.
Analysts warn the departure could weaken OPEC coordination, add barrels to supply and modestly lower crude prices, aiding importers like India.