Commodities

UAE Exits OPEC+, Fueling Oil Price Uncertainty

Guavy AI Editorial Team Published July 30, 2026

Instruments

Oil

The United Arab Emirates (UAE) has announced it will leave OPEC+ on May 1, marking the fourth largest producer to exit the oil producers' alliance in recent years. The UAE is a significant player in OPEC+, producing nearly 3.3 million barrels per day and having capacity to produce up to 4.5-5.0 million barrels per day.

OPEC+ was formed in 2016 by OPEC, which includes 12 countries mainly from the Middle East, and non-member countries including Russia. The alliance aims to balance oil markets through production cuts and increases. However, critics argue that OPEC+ manipulates prices, a claim the organization denies.

The UAE's departure comes as global oil prices have been impacted by the ongoing US-Iran war. In March, Gulf OPEC+ crude oil production fell by nearly 8 million barrels per day due to output cuts from Saudi Arabia, the UAE, Kuwait, and Iraq.

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