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Ulviyya Poladova

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The United Arab Emirates has announced its decision to withdraw from both OPEC and the broader OPEC+ framework, effective May 1, 2026.

According to the state news agency Emirates News Agency, the move aligns with the country’s long-term strategic and economic priorities. The country joined OPEC in 1971.

It must be noted that the UAE is the third largest oil producer in OPEC, behind Saudi Arabia and Iraq.

The departure from OPEC would likely lead the UAE to boosting energy output. Although with the Strait of Hormuz closed, it's not clear how fast any increased production would be able to reach global markets.

However, the UAE’s exit from OPEC, and its sister group OPEC+, represents a big win for U.S. President Donald Trump, who has accused the organisation of "ripping off the rest of the world" by inflating oil prices.

The Brent crude oil price has reached as high as $119.50 a barrel since the outbreak of the war in Iran. On Tuesday, it rose 3.4% to $111.67.

Image: Dado Ruvic / Reuters