Energy market shock as UAE pulls out of Opec in huge blow to global oil producers' group

Patrick O'Donnell
Tue, 28 Apr 2026 12:46:31 +0000

The United Arab Emirates (UEA) has pulled out of Organisation of the Petroleum Exporting Countries (Opec) and Opec+ in a major shock to the global energy market.

This represents a blow to the oil exporting groups and their de facto leader, Saudi Arabia, amid the ongoing US-Iran war.

Global energy markets have been spooked by the conflict in the Middle East, which has resulted in the Islamic Republic blocking ships travelling through the Strait of Hormuz.

The effective closure of the vital route, which transports 20 per cent of the world's oil exports, has seen energy prices surge globally.

Despite being a longstanding member of the group, the UAE has left the organisation in a move that is expected to cause further disarray in the region.

Since the onset of the war, Opec gulf oil producers have experienced difficulty in getting their imports out of the Strait.

UAE Energy Minister Suhail Mohamed al-Mazrouei asserted the move was taken after a careful look at the regional power's energy strategies.

He confirmed the UAE did not raise the issue with any other country, including Saudi Arabia.

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The energy minister said: "This is a policy decision, it has been done after a careful look at current and future policies related to level of production."

According to Mr Mazrouei, UAE's dramatic exit from OPEC will not have a huge impact on the market because of the situation in the shipping route.

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