The United Arab Emirates will leave OPEC effective Friday, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices.

The Arab oil producer has long expressed frustration with the quotas it has to follow as part of OPEC, the cartel of major state-owned oil producers.

The UAE's 2026 exit from OPEC and plans to hit 5 million barrels per day by 2027 signal a shift as the Hormuz closure drives prices. Learn why OPEC's power is weakening.

President Donald Trump, a longtime critic of the Organization of the Petroleum Exporting Countries (OPEC), who has accused the group of "ripping off the rest of the world,” on Wednesday praised the United Arab Emirates’ plan to leave the alliance by the end of the month and said he thinks it will ultimately lower the price of oil.

The group of oil-producing countries supplied more than 25 percent of the world’s oil before the war in Iran. Its members have influenced energy markets through the years.

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

The United Arab Emirates - a leading producer of crude oil - has decided to quit the Organization of Petroleum Exporting Countries. Here's why and what may happen next.

The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.

The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major influence over the price of energy around the globe.

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