UAE exits OPEC after 59 years, escalating tensions with Saudi Arabia over oil production
The United Arab Emirates is leaving OPEC. After nearly six decades of membership, the Gulf state announced its departure from the oil cartel, effective May 1, 2026. The UAE was OPEC’s third-largest producer, sitting on spare capacity estimated at 3 to 3.5 million barrels per day. A feud decades in the making The tension between…
