UAE leaves OPEC in major blow to global oil producers' group - Reuters
UAE leaves OPEC in major blow to global oil producers' group Reuters
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Notable Quotes
"OPEC of 'ripping off the rest of the world.'"
— Donald Trump , Politician
"I expect this weak stance from the Arab League, and I am not surprised by it, but I haven't expected it from the GCC, and I am surprised by it."
— Anwar Gargash , Politician
"This is a policy decision. It has been done after a careful look at current and future policies related to level of production."
— Suhail Mohamed al-Mazrouei , Executive
"I expect this weak stance from the Arab League, and I am not surprised by it."
— Anwar Gargash , Politician
"This is a policy decision, it has been done after a careful look at current and future policies related to level of production."
— Suhail Al Mazrouei , Executive
Key People
Anwar Gargash is a presidential advisor in the UAE.
Former president of the United States known for his aggressive economic policies.
Current U.S. President who has criticized Netanyahu's actions.
Director of the National Economic Council under President Trump.
Khaled Mohamed Balama is the governor of the UAE central bank.
U.S. Secretary of State.
Saudi Crown Prince involved in regional politics.
Scott Bessent is the Treasury Secretary.
Sheikh Abdullah bin Zayed Al Nahyan is the Foreign Minister of the UAE.
President of the UAE, influential in Middle Eastern affairs.
Senior fellow for Middle East and Africa Studies at the Council on Foreign Relations.
Suhail Al Mazrouei is the Energy Minister of the UAE.
UAE Energy Minister responsible for the country's energy strategies.
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<a href="https://news.google.com/rss/articles/CBMimAFBVV95cUxNZWEyNjA0NWVRbFNPSGE2Vzd2NGlWcXlvcU44RTdmOVBiMlQwR09xVC1ibkdCREI1QkVORmNaR2Y3VEZOanB4ZjA5TWhCMmpnaUg5UmRwMU1KLXRJTVNoN3ZuQW13aUpiUGdEVzRUbkgwRXRFNEtDMHltS0VoQk56VWFsbTB1V0FROHhDNG11WmtfSjZyekg3WA?oc=5" target="_blank">UAE leaves OPEC in major blow to global oil producers' group</a> <font color="#6f6f6f">Reuters</font>
The UAE's departure from OPEC is expected to disrupt the 65-year-old alliance that produces about 40% of the world's crude oil.
The UAE's exit from OPEC and OPEC+ comes amid the US-Israel war on Iran, causing a historic energy shock and unsettling the global economy.
The UAE's departure from OPEC and OPEC+ is a significant blow to the oil-exporting groups and their de facto leader, Saudi Arabia.
The UAE's withdrawal from OPEC ends a 58-year membership and deals a symbolic blow to an economic alliance strained by regional war and fractured diplomacy.
The UAE's departure from OPEC after more than five decades of membership undermines OPEC's ability to regulate oil supply and stabilize global prices.
The UAE's decision to quit both OPEC and OPEC+ deals a heavy blow to the oil exporters' cartel and its de facto leader, Saudi Arabia.
The UAE's departure from OPEC and OPEC+ is a significant blow to the oil-exporting groups and their de facto leader, Saudi Arabia.
The UAE's decision to leave OPEC and OPEC+ effective May 1, 2026, ends a 59-year membership and impacts the oil cartel's dynamics.
The UAE announced its decision to leave OPEC effective May 1, 2026, citing national interests and a desire to focus on its energy strategy.
The UAE's decision to exit OPEC reflects its focus on national interests and a commitment to a new energy era, effective May 1, 2026.
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