UAE to Leave Big Oil Group OPEC
The United Arab Emirates (UAE) is leaving OPEC, a big group of oil-producing countries. The UAE is the third-biggest oil producer in the group and has been a member for nearly 60 years. It will officially leave on 1 May 2026. The UAE wants more freedom to make its own oil decisions. The news comes during a war between the United States, Israel, and Iran, which has stopped much of the oil leaving the Gulf and pushed prices very high.
The UAE has been unhappy with OPEC for years. OPEC limits how much oil each country can produce. The UAE can pump 4.8 million barrels a day, but OPEC only allowed about 3.5 million. Saudi Arabia leads the group, and the UAE often disagreed with its decisions. The recent war made things worse. Experts also say the UAE wants to sell more oil now, before the world uses less of it.
The UAE plans to slowly produce more oil— up to 5 million barrels a day. Experts say this will make OPEC weaker. Saudi Arabia might lower its prices to fight back, which could hurt poorer countries. US President Donald Trump welcomed the news. With oil already near $111a barrel, drivers around the world may soon pay more for fuel.