UAE to Officially Leave OPEC and OPEC+ in May After 59 Years
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UAE will leave OPEC and OPEC+ effective May 1, 2026 (announced Apr 28, 2026), ending 59 years of membership; it seeks full control of production quotas and a strategic pivot to renewables and low‑carbon policy. - Exit may weaken OPEC+ unity and raise oil supply and price volatility — a macro headwind for crypto: potential higher mining energy costs, pressure on token prices and liquidity, and impacts to DeFi/CEX volumes, fundraising and adoption.
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- The UAE will leave OPEC and OPEC+ effective May 1, 2026, after 59 years, as the Iran war reshapes the oil market.
- UAE seeks full control over production quotas to align with its long-term strategic and economic vision.
- This decision may weaken OPEC+ unity and significantly impact global oil supply and the crypto market.
On April 28, 2026, the United Arab Emirates (UAE) Ministry of Energy officially announced its withdrawal from both OPEC and the broader OPEC+ alliance, effective May 1, 2026, ending 59 years of membership.
The government cites long-term strategic needs, production capacity expansion, energy diversification into renewables and low-carbon sources, and the need for policy flexibility to align output independently with global demand rather than cartel quotas.
UAE to Exit OPEC and OPEC+ in May Amid Iran War Oil Disruption
The United Arab Emirates…
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