The United Arab Emirates (UAE) has announced its exit from this Organization effective from May 1, 2026. This comes amid a widening global energy shock triggered by the US-Israel war on Iran.
This is a major shift as UAE was OPEC’s third-largest oil producer and one of the few members with significant spare production capacity. The move deals a heavy blow to the oil-exporting alliance and its de facto leader, Saudi Arabia.
However, this is a big opportunity for India as it could reshape the oil cartel, global energy markets, and thus the reliance on oil imports.