The United Arab Emirates has quit the OPEC oil cartel. This decision will take effect on Friday, April 30, 2026. The UAE’s departure is a notable shift for OPEC, which has faced challenges amid rising global oil prices.
As of early Tuesday, the Brent crude oil price soared to $119.50 per barrel. This increase follows ongoing tensions related to the Iran war and its impact on the energy market.
The UAE joined OPEC in 1967 and remained a member after the country was formed in 1971. However, recent criticisms surfaced regarding the lack of support from fellow Arab states against Iranian threats.
Within hours of the announcement, Donald Trump expressed his approval, having previously accused OPEC of inflating oil prices. The UAE’s exit is viewed as a significant victory for him amidst this backdrop.
Historically, OPEC Gulf producers have struggled with crude oil exports through the Strait of Hormuz due to Iranian threats. A fifth of the world’s crude oil and liquefied natural gas passes through this vital passage.
Anwar Gargash commented on the situation, stating, “The Gulf Cooperation Council countries supported each other logistically, but politically and militarily, I think their position has been the weakest historically.” He added that he was surprised by the weak stance of the Gulf Cooperation Council.
As global energy dynamics shift with this departure, analysts are closely monitoring how it will affect future oil production and pricing strategies within OPEC+. The full implications of this move may unfold over time as market reactions continue.