United Arab Emirates says it will leave OPEC
The United Arab Emirates has announced its decision to leave OPEC next month. This move is influenced by the ongoing regional tensions stemming from the Iran war and aims to align with the UAE's long-term energy strategy. The UAE's exit reflects its commitment to enhancing domestic energy production and adapting to the evolving global energy landscape.
- ▪The UAE will exit OPEC next month amid regional fallout from the Iran war.
- ▪This decision is part of a long-term strategic vision to boost domestic energy production.
- ▪U.S. oil prices surged nearly 4% on the announcement, exceeding $100 a barrel.
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ABC NewsLiveVideoShowsGood Morning AmericaShopGMAInterest Successfully AddedWe'll notify you here with news aboutTurn on desktop notifications for breaking stories about interest? OffOnStream onUnited Arab Emirates says it will leave OPECThe move comes amid regional fallout from the Iran war.ByMax ZahnApril 28, 2026, 9:12 AM3:42A refinery worker rides a bicycle at an oil processing plant in Jebel Ali, Dubai, United Arab Emirates.APThe United Arab Emirates on Tuesday said it would leave the Organization of the Petroleum Exporting Countries (OPEC) next month.The move comes amid regional fallout in the Gulf amid the Iran war, which has triggered one of the worst oil shocks in history.The decision reflects a "long-term strategic and economic vision and evolving energy profile, including…
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