Watch: UAE shocks world with dramatic OPEC exit | Above the Fold | 28.04.2026

In a historic move, the United Arab Emirates announces its withdrawal from OPEC, reshaping global oil dynamics. | Contesto: cronaca

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• Watch: UAE shocks world with dramatic OPEC exit | Above the Fold | 28.04.2026

Contesto

In a stunning development that sent shockwaves through global energy markets, the United Arab Emirates announced its exit from the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday, marking the first departure of a major Gulf producer from the cartel in decades. The decision, confirmed by UAE officials during a press conference in Abu Dhabi, comes amid growing tensions between the Emirates and Saudi-led OPEC over production quotas and long-term strategy. The move is expected to reshape the landscape of global oil diplomacy and raises immediate questions about the future cohesion of the 13-member group. The UAE, which has long been one of OPEC’s most influential members and the third-largest producer within the cartel, cited a desire for greater autonomy in setting its own output levels. Sources close to the matter indicated that the Emirates had grown frustrated with what they viewed as restrictive quotas that hampered its ambitious plans to boost production capacity to 5 million barrels per day by 2030. The exit, effective immediately, allows Abu Dhabi to pursue an independent production strategy, potentially increasing supply and putting downward pressure on global crude prices. The announcement comes at a critical juncture for the global energy market. With the world still grappling with the aftermath of the Russia-Ukraine conflict and volatile prices, the UAE’s departure weakens OPEC’s collective bargaining power. Analysts warn that this could trigger a domino effect, with other producers like Iraq or Kuwait reconsidering their membership. The cartel, already strained by disagreements between Saudi Arabia and smaller members over quota allocations, now faces its most serious challenge since the 2014 oil price crash. The UAE’s exit also has significant geopolitical implications. The Emirates has been diversifying its economy away from oil and investing heavily in renewable energy and technology, positioning itself as a future-focused hub. This move aligns with its broader strategy to reduce dependence on traditional oil alliances. Neighboring Saudi Arabia, OPEC’s de facto leader, has not yet issued an official response, but industry...

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Categoria: cronaca