Council on Foreign Relations

Why the UAE Walked Out on OPEC—and What It Means for the Cartel

The United Arab Emirates (UAE) announced on Tuesday that it is withdrawing from the Organization of the Petroleum Exporting Countries (OPEC).

UAE's shock OPEC exit: What it means for the oil cartel's future and for crude prices

The UAE wants to ramp up production without constraints from OPEC, which could prove bearish for prices at some point.

United Arab Emirates Says It Will Leave OPEC in Blow to Oil Cartel

The Gulf government has long complained about the group’s quotas, which officials believe unfairly limited its exports. Its departure is expected to weaken OPEC’s influence.

UAE quits OPEC in blow to cartel that could reshape global oil markets

The United Arab Emirates will leave OPEC, a decades-old cartel of the world’s top oil exporters, delivering a shock that will ripple through global oil markets at a time of unprecedented turmoil caused by the Iran war.

The U.A.E.’s OPEC Bombshell Signals a New Middle East Order

After bearing the brunt of Iran’s counterattack, the financial powerhouse is strengthening ties with Israel and challenging Saudi Arabia.