UAE to exit OPEC cartel

The United Arab Emirates has officially announced its withdrawal from OPEC and the OPEC+ alliance effective May 1, a move that signals a major shift in Gulf geopolitics.

The decision follows years of tension with Saudi Arabia over production quotas and a desire to maximize oil revenue.

Analysts suggest the exit weakens the cartel's leverage over global oil prices and reflects the UAE's shift toward an independent economic vision.

Russia has stated that OPEC+ will continue its cooperation despite the departure, though the move adds momentum to the group's declining market share.