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UAE's exit from OPEC+ reduced the group's share of crude oil production and capacity

On April 28, 2026, the United Arab Emirates (UAE) announced that it was leaving OPEC, effective on May 1.

Source EIA Today in Energy AI Summary Updated 1h 04m ago

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On April 28, 2026, the United Arab Emirates (UAE) announced that it was leaving OPEC, effective on May 1. OPEC was formed in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela, with the stated objective to "coordinate and unify petroleum policies among Member Countries." OPEC is best known for its effect on global crude oil prices.

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