The United Arab Emirates exits OPEC, shaking global energy market
Par Ghiles Guezout
Mis à jour: 28 Apr 2026
ARTICLES POPULAIRES
The United Arab Emirates (UAE) announces its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+), marking a major turning point for the balance of the global energy market.
- The United Arab Emirates announces its withdrawal from OPEC and OPEC+ effective May 1.
- The decision weakens cartel cohesion amid an already tense geopolitical backdrop.
- Regional tensions and strategic disagreements accelerate the rupture.
The United Arab Emirates (UAE) announces its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+), marking a major turning point for the balance of the global energy market. According to Reuters, the withdrawal takes effect on May 1 and follows a comprehensive reassessment of the country’s energy strategy.
This announcement comes at a time of heightened geopolitical tensions, particularly linked to the conflict with Iran, which is already disrupting global energy flows. Exports from Gulf producers are under pressure due to threats targeting the Strait of Hormuz, a critical chokepoint through which a significant share of the world’s Oil and Liquefied Natural Gas (LNG) supply normally passes.
The exit of the United Arab Emirates represents a significant setback for the alliance, historically dominated by Saudi Arabia. The move could deepen internal divisions, already visible over production quotas and strategic direction. It also raises questions about the group’s ability to maintain a coordinated policy response in the face of a global energy shock.
According to Reuters, Emirati authorities justify the decision by the need to align their energy strategy with broader national priorities beyond Oil alone. This repositioning comes as the country has expressed dissatisfaction with the level of regional support following multiple attacks during the ongoing conflict.
Beyond the immediate impact on the organization, the decision could reshape power dynamics within the global energy market, increasing uncertainty over future supply coordination and price stability in an already highly volatile environment.
Market reaction
West Texas Intermediate (WTI) Crude Oil initially dropped sharply near $96 following the announcement, before rebounding quickly to around $97.60 at the time of writing, marking a 2.8% gain on the day.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
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