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producers

UAE exits OPEC, dealing blow to global oil producers’ group

The United Arab Emirates has announced it will withdraw from the OPEC and OPEC+ oil alliances, a dramatic move that lands a significant blow on the producers' bloc as an extraordinary energy crisis sparked by the US-Israeli war on Iran lays bare growing rifts across the Gulf. The departure of the UAE, a longtime OPEC member, threatens to erode the group's influence. OPEC has typically worked to project unity even when disputes over geopolitics and output targets have simmered beneath the surface. UAE Energy Minister Suhail…

UAE leaves OPEC, dealing major blow to global oil producers’ group

By Maha El DahanTuesday April 28, 2026 Saudi Foreign Minister Faisal bin Farhan al Saud receives United Arab Emirates' Deputy Prime Minister and Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan ahead of an exceptional meeting of the Gulf Cooperation Council (GCC), the first in-person meeting of Gulf leaders since their states became a front in the Iran war two months ago, In Jeddah, Saudi Arabia, April 28, 2026. Saudi Press Agency/Handout via REUTERS Purchase Licensing Rights The United Arab Emirates said on…