UAE Announces Exit from OPEC and OPEC+ from 1 May 2026
Why in the news
The United Arab Emirates announced on 28 April 2026 that it will withdraw from OPEC and the wider OPEC+ grouping. The decision takes effect on 1 May 2026.
Key facts
- Membership: joined OPEC in 1967, as Abu Dhabi, so nearly six decades.
- Rank: third-largest OPEC producer, with roughly 12% of output after Saudi Arabia and Iraq.
- Reasons cited: frustration with production quotas, a push for energy autonomy and plans to lift capacity to about 5 million barrels per day.
- Context: analysts say the Iran war changed the UAE’s outlook on the group.
- Effect: OPEC is left with 11 members.
| Item | Detail |
|---|---|
| Announced | 28 April 2026 |
| Effective | 1 May 2026 |
| Member since | 1967 |
About OPEC
OPEC was founded on 14 September 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Its headquarters is in Vienna, Austria.
Exam angle
- Remember the dates (28 April announcement, 1 May exit) and the 1967 entry year.
- Know OPEC’s founding year (1960), the five founders and the Vienna headquarters.
- One digest dates the announcement 30 April; most sources use 28 April.