The United Arab Emirates (UAE) announced its departure from OPEC and the OPEC+ alliance on Wednesday. This exit becomes effective on May 1, 2026. Energy ministry officials cited a desire for greater energy policy flexibility as the primary driver. The move ends 60 years of UAE membership in the oil cartel.
Brent crude prices jumped over 3% to trade above $114 per barrel following the announcement. The UAE currently ranks as OPEC’s third-largest producer and maintains significant spare production capacity. Analysts view the decision as the result of long-standing quota disagreements with Saudi Arabia. This strategic shift allows the UAE to monetize its reserves and expand global market share.