UAE leaves OPEC after six decades amid Iran war and oil market turmoil

32 articles · Updated · Bloomberg · Apr 28

The UAE, OPEC’s third-largest producer with 12% of its supply, exits as oil prices remain above $110 a barrel and the Iran conflict disrupts the Strait of Hormuz.
Energy Minister Suhail Al Mazrouei cited the war’s impact and longstanding tensions with Saudi Arabia as reasons for the exit, which analysts say threatens OPEC’s stability but has limited short-term supply impact.
The UAE’s departure follows criticism of weak Gulf responses to Iran and comes as Iran signals possible talks to reopen the strait, while US officials remain skeptical of any interim deal.

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