UAE exits OPEC and OPEC+ effective May 1

Summary

The United Arab Emirates is leaving OPEC and OPEC+, effective May 1, ending nearly six decades of membership. This exit strips OPEC of its third-largest producer amid ongoing tensions and a fragile market due to the Iran War and the closure of the Strait of Hormuz. The UAE has been constrained by production quotas while seeking to increase its output capacity significantly.

Recent Coverage

• UAE Opec Exit Signals Wider Gulf Divide

  Energy Intel • Apr 30

• Trump cheers UAE's Opec exit. US shale may think otherwise

  Upstream Online • Apr 30

• JP Morgan: UAE Could Attract More U.S. Investment After OPEC Exit

  OilPrice.com • Apr 30

• Russia Dismisses Price War Fears Following UAE Departure From OPEC+

  OilPrice.com • Apr 30

• Wood Mackenzie: UAE exit rattles OPEC’s grip on the oil market and increases risk of medium-term oil price decline from 2027 as market share competition emerges

  Oilfield Technology • Apr 30