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Faisal Islam: Why the UAE's exit from Opec is a big deal
The United Arab Emirates has abruptly exited OPEC after decades of membership, citing dissatisfaction with production quotas that limited its output to 3-3.5 million barrels per day while it seeks to utilize its spare capacity to target 5 million barrels. This move could trigger an oil price war with Saudi Arabia and signals long-term concerns about declining oil demand due to global electrification trends.
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91- First seen
- Apr 28, 2026, 11:55 PM
- Last updated
- Apr 29, 2026, 12:00 PM
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Faisal Islam: Why the UAE's exit from Opec is a big deal
Apr 28, 2026, 11:55 PM