UAE Withdraws from OPEC!US Crude Oil SPOTCFI:WTICFIThe Emirates has announced its withdrawal from OPEC and the OPEC+ alliance, effective May 1, 2026, in a move aimed at gaining greater flexibility in its production policy and focusing on national interests. According to the Emirates News Agency (WAM), the decision aligns with the country’s long-term strategic vision to develop its energy sector, while continuing to meet market needs and maintain stability. The UAE also reaffirmed its commitment to supporting global energy market stability and cooperation with both producers and consumers. The statement added that the UAE will continue to increase production in a gradual and measured manner, in line with demand and market conditions, while maintaining investments across the energy value chain, including oil, gas, renewable energy, and low-carbon solutions. This decision ends the UAE’s OPEC membership, which began in 1967, while emphasizing its continued role as a reliable producer contributing to global market stability. Potential impact: The UAE’s exit from OPEC+ gives it greater production flexibility, which could increase supply and place mild downward pressure on prices. In the short term, markets may see increased volatility as OPEC+ cohesion is reassessed, while the overall impact will depend on the response of other producers and global demand levels.