UAE Announces Withdrawal from OPEC and OPEC+, Trump May Be the 'Biggest Winner'

On April 28, the UAE announced on Tuesday that it will withdraw from OPEC and OPEC+ effective May 1. This decision comes against the backdrop of a historic energy shock triggered by the Iran war, which has shaken the global economy, and it represents a significant blow to the organization and its de facto leader, Saudi Arabia. As a long-time member of OPEC, the UAE’s unexpected announcement could lead to chaos within the organization and weaken its influence—despite internal disagreements on issues ranging from geopolitics to production quotas, OPEC has typically sought to present a unified front. This could be a major victory for U.S. President Trump, who has accused the organization of ‘extorting the rest of the world’ by raising oil prices. Trump has also linked U.S. military support for the Gulf region to oil prices, stating that while the U.S. defends OPEC member countries, they are ‘taking advantage of this by setting high oil prices.’ The UAE is a regional commercial hub and one of Washington’s most important allies. Prior to this move, the UAE criticized other Arab countries for failing to take adequate measures to protect it from multiple Iranian attacks during the war. (Jinshi)