May 1, 2026 - LATEST
UAE Exits OPEC After 59 Years: Cartel Faces Biggest Structural Shakeup in Decades
The United Arab Emirates formally left OPEC on May 1, 2026, ending a 59-year membership and marking the most consequential departure in the group's modern history. The exit lands as the Strait of Hormuz closure removes roughly 100 million barrels of supply each week, leaving the remaining seven OPEC+ countries to manage the deepest supply crisis on record without their third-largest producer.
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