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UAE announces exit from OPEC and OPEC+ from 1 May.
28 Apr 2026
Timeline
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Economy
UAE announces exit from OPEC and OPEC+ from 1 May1234
The UAE announced on 28 April that it will quit OPEC and OPEC+ with effect from 1 May, citing its long-term energy strategy and wish to use its larger capacity. OPEC is left with 11 members.
- UAE announced its exit on 28 April 2026 through the state news agency WAM
- Effective 1 May 2026
- Covers both OPEC and the wider OPEC+ alliance
- UAE had been pushing for a higher quota than its 3.5 million barrels a day against built capacity
- UAE had been a member since 1967 (as Abu Dhabi); OPEC left with 11 members
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International
UAE President visits Delhi; India and UAE sign LoI on strategic defence partnership567
UAE President Sheikh Mohamed bin Zayed made a brief visit to New Delhi on 19 January. The two countries signed a letter of intent on a strategic defence partnership, agreed to double trade, and cleared a long-term LNG supply deal.
- Visit on 19 January 2026
- Letter of Intent on a Strategic Defence Partnership, to lead to a framework agreement
- Goal: double bilateral trade to USD 200 billion (about 2032)
- ADNOC Gas to supply 0.5 mtpa LNG to HPCL for 10 years from 2028, valued about USD 2.5-3 billion
- LoI between UAE and Government of Gujarat on investment cooperation; space and food safety documents also exchanged
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