UAE To Leave OPEC Amid Hormuz Oil Crisis (apnews.com)
(Wednesday April 29, 2026 @11:00AM (BeauHD)
from the global-energy-shock dept.)
[1]fjo3 writes:
> The United Arab Emirates announced Tuesday that it [2]would exit the Organization of the Petroleum Exporting Countries (source paywalled; [3]alternative source ), or OPEC, along with the wider group of partners known as OPEC+, effective May 1, in what could be a blow to control over prices by the group, long led in practice by Saudi Arabia. The move "reflects the UAE's long-term strategic and economic vision and evolving energy profile" read an official statement carried by a UAE state news agency, as disruptions "in the Strait of Hormuz continues to affect supply dynamics."
>
> [...] The UAE is the second Persian Gulf country to leave the group after Qatar terminated its membership in 2019. The UAE has been a member of OPEC since 1971. The latest departure leaves in place 11 core members: Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia and Venezuela.
[1] https://slashdot.org/~fjo3
[2] https://www.washingtonpost.com/world/2026/04/28/uae-opec-iran-hormuz-trump-saudi/
[3] https://apnews.com/article/opec-united-arab-emirates-leaving-cartel-4966108c3fafacb67181152216deda14
> The United Arab Emirates announced Tuesday that it [2]would exit the Organization of the Petroleum Exporting Countries (source paywalled; [3]alternative source ), or OPEC, along with the wider group of partners known as OPEC+, effective May 1, in what could be a blow to control over prices by the group, long led in practice by Saudi Arabia. The move "reflects the UAE's long-term strategic and economic vision and evolving energy profile" read an official statement carried by a UAE state news agency, as disruptions "in the Strait of Hormuz continues to affect supply dynamics."
>
> [...] The UAE is the second Persian Gulf country to leave the group after Qatar terminated its membership in 2019. The UAE has been a member of OPEC since 1971. The latest departure leaves in place 11 core members: Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia and Venezuela.
[1] https://slashdot.org/~fjo3
[2] https://www.washingtonpost.com/world/2026/04/28/uae-opec-iran-hormuz-trump-saudi/
[3] https://apnews.com/article/opec-united-arab-emirates-leaving-cartel-4966108c3fafacb67181152216deda14