UAE leaves OPEC in a blow to oil cartel

UAE leaves OPEC in a blow to oil cartel Business

To display this content from YouTube, you must enable advertisement tracking and audience measurement.

Accept Manage my choices

One of your browser extensions seems to be blocking the video player from loading. To watch this content, you may need to disable it on this site.

Try again

04:46

Issued on: 28/04/2026 - 23:17

04:46 min Share Play (04:46 min) From the show Reading time 1 min

The United Arab Emirates has announced it will leave OPEC and OPEC+ on May 1, in a significant blow to the oil cartels.  In a statement, the Gulf country said it was doing so to focus on its national interest.  The country had often expressed frustration at production quotas set by the group, and its relationship with Saudi Arabia, OPEC's de facto leader, had become increasingly tense. 

By: Yuka ROYER Advertising Related keywords

• Oil and gas industry
• Fossil fuels
• OPEC+
• United Arab Emirates
• Saudi Arabia
• Iran war
• Strait of Hormuz