United Arab Emirates withdraws from OPEC
United Arab Emirates announces its withdrawal from OPEC and OPEC+ effective May 1, citing alignment with its long-term economic and energy strategy. The decision represents a significant challenge to the influential oil cartel led by Saudi Arabia. Israel National News Published: Apr 29, 2026, 3:17 AM (GMT+3) IllustrationiStock The United Arab Emirates will officially leave the Organization of the Petroleum Exporting Countries (OPEC) beginning May 1, according to a statement on Tuesday published in the UAE’s official state news agency WAM. The announcement states that the move supports the country’s broader strategic goals for its economy and energy sector. “This decision aligns …