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UAE exits OPEC+ effective May 1, 2026; overview of OPEC+, its members, and bloc functions
The United Arab Emirates announced on April 28, 2026 that it will leave OPEC+ effective May 1, 2026, a move linked to the regional conflict involving Iran, Israel, and the United States. OPEC+ is a consortium of oil producers including Russia, and in 2025 it supplied about half of the world's oil, highlighting the potential impact on prices and markets.
Why It Matters
The UAE’s exit from OPEC+ removes a key member from a major oil-producing alliance, with possible consequences for global oil supply and prices.
Timeline
3 Events
UAE exits OPEC+ (effective date)
May 1, 2026
The UAE exits OPEC+ on May 1, 2026, ending its participation in the alliance of oil-producing countries led by OPEC and its allies.
UAE announces exit from OPEC+
April 28, 2026
The United Arab Emirates announced it will leave OPEC+ effective May 1, 2026, a move seen as shaping short- and long-term crude prices and taking place amid the Iran-Israel-US war.
OPEC+ production share in 2025
2025
In 2025, the OPEC+ bloc produced nearly 50% of the world’s oil and oil liquids, according to the International Energy Agency.