Oil math: How UAE's exit from OPEC will impact world’s energy market
The United Arab Emirates' exit from OPEC has significantly impacted the group's global crude oil output, reducing its share from 35% to 31%. This move
The United Arab Emirates' exit from OPEC has significantly impacted the group's global crude oil output, reducing its share from 35% to 31%. This move, effective May 1, 2026, highlights the UAE's substantial role in the bloc. Meanwhile, regional disruptions due to the Strait of Hormuz closure are escalating, with Iraq, Saudi Arabia, and Kuwait facing major production shut-ins.
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