UAE exits OPEC after nearly 59 years, escalating tensions with Saudi Arabia over oil production
Crypto Briefing
The UAE will leave OPEC in 2026, ending decades of membership to prioritize production flexibility and independent economic growth over oil-cartel quotas.Summary
The United Arab Emirates has announced its departure from OPEC and OPEC+, effective May 1, 2026, ending a 59-year membership. By removing quota restrictions, the UAE aims to increase its oil output, which could add over 1 million barrels per day to global markets. This move reflects deepening tensions with Saudi Arabia over production policies and divergent national economic strategies, as the UAE pivots toward technology and finance while Saudi Arabia focuses on funding its Vision 2030 through oil price management.
(Source：Crypto Briefing)