Why Did UAE Quit OPEC After 59 Years? Oil Crash Ahead?

Added: 2026-04-29

[00:00:00]A massive shock just hit global energy markets. The UAE is exiting OPEC after more than 59 year and this could reshape oil prices worldwide. So what's happening? OPEC created in 1960 acts like a central bank for oil controlling supply to influence prices. The UAE joined in 1967 but now it wants out.

[00:00:19]Why? Three reasons. First, freedom. OPEC limits output. The UAE has invested heavily and wants to produce more on its own. Second, geopolitics. Rising tensions in the Gulf, especially around the Strait of Hormuz, push the UAE to seek full control over exports. Third, strategy. To move beyond oil, it needs to sell more oil now to fund its future.

[00:00:39]Now, the impact. More UAE supply means more global oil and lower prices, at least short-term. But it also weakens OPEC and adds volatility. Here's the twist. If one exits, others may rethink, too. That could reshape the global oil order. So, here's the question. Is this the beginning of OPEX decline or just a temporary shakeup in global oil politics?