UAE to Exit OPEC Amid Strained Gulf Alliances and Iran War Tensions

The UAE announced its withdrawal from OPEC effective May 1, 2026, leading to a rise in oil prices as geopolitical tensions with Iran and the blockage of the Strait of Hormuz persist. The move comes amid ongoing disputes within OPEC and the UAE's desire to align production with market needs.

By Cris Tolomia Tue, April 28, 2026 at 4:02 PM GMT+3 2 min read · Yahoo Finance · April 28, 2026, 13:02 UTC

UAE to Exit OPEC Amid Strained Gulf Alliances and Iran War Tensions

Topics: Iran conflict oil prices OPEC Strait of Hormuz UAE

Read the full article at Yahoo Finance

More World news

Serco Group Announces $292 Million Acquisition of QinetiQ's U.S. Business Seeking Alpha · November 12, 2026, 16:30 UTC
Ag Growth International Targets $30M in Cost Savings Amid Divergent Business Performance Seeking Alpha · November 12, 2026, 16:30 UTC
Qualstar Reports Q3 Non-GAAP EPS of $0.09 and Revenue of $2.04 Million Seeking Alpha · November 12, 2026, 16:31 UTC
Chicago Fed President Austan Goolsbee Expresses Concern Over Persistent Inflation Trends Seeking Alpha · November 12, 2026, 16:33 UTC
Nvidia CEO Jensen Huang Ousted Amid Allegations of Personal Misconduct and National Security Concerns TechCrunch · November 12, 2026, 16:32 UTC
Pomerantz Law Firm Investigates Silvercorp Metals Inc. Following Production Shortfalls and Revenue Decline PR Newswire · November 12, 2026, 16:30 UTC
Cold Spring Harbor Laboratory Raises $6.5 Million at 21st Annual Double Helix Medals Dinner PR Newswire · November 12, 2026, 16:30 UTC
Deloitte Recognized as Leader in IDC MarketScape Worldwide Digital Identity Services Assessment PR Newswire · November 12, 2026, 16:30 UTC
SpaceX Announces $74 Billion Investment in AI Data Center Projects in Texas and Arizona Seeking Alpha · November 12, 2026, 16:25 UTC
Ofcom Fines Meta £450,000 Over Inaccurate WhatsApp Business Data Seeking Alpha · November 12, 2026, 16:25 UTC