Daily Market Updates: UAE plans exit from OPEC+ effective May 1

Commodities

Home›Commodities›Energy›UAE plans exit from OPEC+ effective May 1

UAE plans exit from OPEC+ effective May 1

The UAE departure reduces OPEC's share of crude oil production and capacity, according to the EIA.

Reported · Written up by our desk · Energy

The EIA said the United Arab Emirates announced it will leave OPEC effective May 1, after previously being part of the group.

The EIA noted that OPEC has a stated goal of coordinating and unifying petroleum policies among member countries, and that it is closely tied to global crude oil price dynamics.

Latest closeWTI crude $95.27 ▲3.4%

← Newer storyProgressive Brad Lander bid for Congress splinters Democrats' labor a…Older story →Zillow forecasts 2026 home sales growth of 4% to 5%

More like this

CommoditiesSaudi Red Sea oil route premiums triple as war risk rises

CommoditiesWhy diesel prices can stay higher even as crude is cheaper

CommoditiesVitol buys at least 25 million barrels of discounted Iraqi crude

CommoditiesIran warns any new strike could broaden conflict toward the Indian Ocean

CommoditiesUS invites Putin to attend G20 summit in Miami this December

Sources

EIAUAE's exit from OPEC+ reduced the group's share of crude oil production and capacity

Commodities

UAE plans exit from OPEC+ effective May 1

More like this

Sources

Get the close, explained.