economy

April 30, 2026

UAE exit from OPEC is sign of broader global realignment

The UAE’s exit from OPEC is indicative of Abu Dhabi’s shift toward alternative global cooperation formats, such as BRICS, according to Going Underground host Afshin Rattansi

UAE exit from OPEC is sign of broader global realignment

TL;DR

  • The UAE announced its departure from OPEC, citing a focus on national interests and its "long-term strategic and economic vision."
  • This decision further weakens the OPEC oil cartel, whose power has been eroding.
  • Afshin Rattansi of Going Underground noted that the UAE's departure is not unprecedented, as Qatar left OPEC in 2019.
  • Rattansi stated that OPEC's power has diminished significantly since its peak influence in 1973.
  • Russia and the United States are now the world's top oil suppliers.
  • The UAE might align with regional blocs such as BRICS and the Shanghai Cooperation Organization.
  • This aligns with the UAE's goal of maintaining independence while facing Western pressure to cut ties with Russia.

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