OPEC is an intergovernmental organization of 13 nations coordinating petroleum production policies among member states, founded in 1960. Known for its outsized influence on global oil prices through collective output decisions and its central role in Middle East energy geopolitics. Recently, OPEC has faced internal strain as the UAE withdrew from the organization and Iraq considered adjusting its membership position. Last updated Jul 9th, 2026
Algeria's President Tebboune on the UAE's withdrawal from OPEC:
"It is a non-event. Among the Arab countries, the main pillar in OPEC is the sisterly Kingdom of Saudi Arabia. End of discussion, and the book is closed... with them... It's finished."
The United Arab Emirates, OPEC’s 3rd largest oil producer, announced it will leave OPEC and OPEC+ effective May 1.
The move would free the UAE from cartel production quotas, allowing it to pump oil at full capacity, set its own...
BREAKING 🔴
The United Arab Emirates, OPEC’s 3rd largest oil producer, announced it will leave OPEC and OPEC+ effective May 1.
The move would free the UAE from cartel production quotas, allowing it to pump oil at full capacity, set its own export strategy and price crude without group restrictions.
That could pave the way for higher UAE output, stronger state revenues and downward pressure on global oil prices.
Lower prices and increased supply would likely be welcomed by President Trump, who has long criticized OPEC production limits and called for cheaper energy.
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