Decision by the UAE to leave OPEC shakes up alliance that influences oil prices worldwide
- Posted on April 28, 2026
- By The Toronto Star
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- 1 min read
In brief
The UAE's withdrawal from OPEC marks a significant shift in global energy politics, challenging the cartel's 65-year dominance in crude oil production. This strategic move impacts the alliance controlling approximately 40% of worldwide oil supplies and raises questions about OPEC's cohesion and future influence on international energy markets and pricing mechanisms.
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Decision by the UAE to leave OPEC shakes up alliance that influences oil prices worldwide
FRANKFURT, Germany (AP) — The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude
