UAE Withdraws from OPEC and OPEC+ Amid Iran War Energy Shock
The United Arab Emirates officially announced its withdrawal from OPEC and OPEC+, dealing a historic blow to Saudi Arabia and the global oil exporting groups. Taking effect on May 1, the move comes as the ongoing US-Iran conflict and the closure of the Strait of Hormuz create historic energy shocks to the global economy.
Date: April 28, 2026
Location: Abu Dhabi, United Arab Emirates
Conflict: US-Iran Conflict
Category: diplomacy
Severity: CRITICAL
Source: The Hindu / WAM