The United Arab Emirates' exit from OPEC will enable the country to more quickly boost production once shipping through the Strait of Hormuz returns to near-normal levels, while weakening OPEC's relevance in setting oil production quotas and influencing prices. On April 28, the United Arab Emirates announced that it will exit OPEC effective May 1, 2026, ending its membership, which began in 1967. As OPEC's third-largest producer by capacity (behind Saudi Arabia and Iraq), the United Arab Emirates accounted for roughly 12% of the oil cartel's output in February 2026 -- the final full month of production before the Iran war began disrupting shipping through the Strait of Hormuz in March. The UAE energy ministry noted that the decision reflected the country's "long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production." As part of the move, the United Arab Emirates will also exit...
