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UAE to Leave OPEC in 2026, Trump Hails Move

5/2/2026

38 7 Full Breakdown

Summary

Story summary

UAE will exit OPEC and OPEC+ on May 1 2026, ending 60 years of membership.
The UAE, OPEC producer supplying 12-14 % of output, targets 5 million barrels per day capacity by 2027, 1.5 million bpd higher.
President Donald Trump called the move “great” and said it could lower oil prices.
Observers say the exit weakens OPEC’s market power because the Strait of Hormuz blockage limited UAE output to 1.9 million bpd in March, keeping prices unchanged.

History

Historical Context

The 1973 Arab oil embargo, sparked by the Yom Kippur War, lifted world oil prices by nearly 300% and gave OPEC unprecedented market power. Decades later, the United Arab Emirates will leave OPEC on 1 May 2026, echoing Saudi Arabia’s historic production cuts and threatening the cartel’s cohesion and price stability.

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Story summary

UAE will exit OPEC and OPEC+ on May 1 2026, ending 60 years of membership.
The UAE, OPEC producer supplying 12-14 % of output, targets 5 million barrels per day capacity by 2027, 1.5 million bpd higher.
President Donald Trump called the move “great” and said it could lower oil prices.
Observers say the exit weakens OPEC’s market power because the Strait of Hormuz blockage limited UAE output to 1.9 million bpd in March, keeping prices unchanged.

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