The United Arab Emirates has announced its decision to leave OPEC and its wider OPEC+ alliances effective from May 1, 2026, marking a significant shift in global oil politics.
OPEC was founded in 1960 by five countries, including Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela, to control oil production and prices.
The UAE joined OPEC in 1967 and its departure will leave the cartel with 11 members.
OPEC+ is a larger group that includes OPEC countries plus major oil producers like Russia, Kazakhstan, and Azerbaijan, formed in 2016 to control oil production and keep prices stable.
The UAE's energy minister cited the need for greater flexibility and faster response to demand, following years of disagreements with Saudi Arabia over oil production.
This is not the first time a country has left OPEC, with Qatar, Indonesia, Ecuador, and Angola having previously exited the group.
