United Arab Emirates to Quit Oil Cartel Opec

Wednesday, April 29, 2026

The United Arab Emirates (UAE) is quitting the Opec and Opec+ groups of major oil producing nations next month after nearly 60 years of membership.

Posted by REDIAL at 10:32 PM | 9 COMMENTS | permalink

Breaking news: The United Arab Emirates has said it is leaving Opec, dealing a significant blow to the oil cartel and its de facto leader Saudi Arabia ft.trib.al/IV6dRwW

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-- Financial Times (@financialtimes.com) Apr 28, 2026 at 8:44 AM

Comments

This is an unexpected result of Pres Trump's war on Iran.

How might this new development alter the landscape of oil prices in the future?

#1 | Posted by LampLighter at 2026-04-29 12:07 AM

How might this new development alter the landscape of oil prices in the future?

That likely depends on who you are, and which way you want oil prices to go.

#2 | Posted by REDIAL at 2026-04-29 12:13 AM

I've weighed the real possibility that gasoline may become too expensive to use my truck for anything other than my occasional trip to the VA hospital when the need arises. The closest supermarket is a 15-minute walk and the Walmart where I pay my utilities is 15-minutes in the other direction--neither of which will be all that comfortable in the winter, as it snows here. It also means no more fast food runs, movies, etc. Motorcycle? Hmmmm...

#3 | Posted by dutch46 at 2026-04-29 05:01 AM

Another western clone stealing from Africa.

#4 | Posted by fresno500 at 2026-04-30 01:30 PM

OPEC was designed for economies built almost entirely around oil production.

Over the last decade, the UAE has heavily diversified its economy.

Staying just doesn't benefit them anymore.

Saudi Arabia is also diversifying but will likely stay a lot longer. Their size allows them to really steer OPEC.

#5 | Posted by Sycophant at 2026-05-01 01:14 PM

That likely depends on who you are, and which way you want oil prices to go.

What? He means in the aggregate.

OPEC was designed for economies built almost entirely around oil production.

It was designed so there wasn't a race to the bottom.

Staying just doesn't benefit them anymore.

It does to keep the crude prices high, but it doesn't because they can't make more. Greed is the issue.

Saudi Arabia is also diversifying but will likely stay a lot longer.

Saudi Arabia needs high oil prices >$90/bl (USD) to fund its government spending and ambitious Vision 2030, its addicted to the oil now, the way the US is to deficit spending.

I've weighed the real possibility that gasoline may become too expensive to use my truck for anything other than my occasional trip to the VA hospital when the need arises.

Sorry to hear.

Motorcycle?

EV motorcycle?

#6 | Posted by oneironaut at 2026-05-01 01:49 PM

#6 | Posted by oneironaut

How is it everything you say is literally the OPPOSITE of the facts?

#7 | Posted by Sycophant at 2026-05-01 01:52 PM

Re: #6...nope...zippy EV bikes are notorious Distracted Driver magnets around here. The kid down the block is on his 3rd one now, as the previous two wound up under a car folded like origami swans. No thanks.

#8 | Posted by dutch46 at 2026-05-02 12:53 PM

zippy EV bikes are notorious Distracted Driver magnets around here.

And EV scooters. It amazes me any of them survive the day.

#9 | Posted by REDIAL at 2026-05-02 12:55 PM

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