Overview
- The UAE, which announced the move Tuesday via state agency WAM, will leave both groups on May 1 citing national interests and disruptions in the Persian Gulf and the Strait of Hormuz.
- Brent crude climbed toward $111 a barrel and U.S. WTI neared $100, lifting fuel and shipping costs for households and businesses already facing higher bills.
- Energy minister Suhail Al Mazrouei said the country will raise output gradually, keep acting as a reliable supplier, and keep investing across oil, gas, renewables, and low‑carbon projects.
- The decision lands during a war with Iran that has squeezed the Strait of Hormuz—a chokepoint that carries about a fifth of seaborne oil—and helped slash OPEC output by about 8 million barrels a day in March.
- The step ends nearly six decades of UAE membership and, analysts say, weakens Saudi leadership of the cartel and could hasten further fragmentation after exits by Qatar, Ecuador, and Angola.