UAE leaves OPEC in blow to oil cartel

The exit of the United Arab Emirates weakens OPEC’s grip on global oil supply and widens its rift with Saudi Arabia, as the industry reels from major disruptions caused by the Iran war

OPEC* CRUDE OIL PRODUCTION
(Thousands barrels per day, 2024)

UAE’s exit is culmination of years of tensions with OPEC leader Saudi Arabia over oil policy and regional competitionIt also deals win to U.S. President Donald Trump who has repeatedly criticised group for its efforts to support oil prices

Before conflict erupted, UAE was OPEC’s fourth-biggest producer, accounting for around 11% of cartel’s overall supply

Saudi Arabia
8,955
34.1% – share of total OPEC output

Iraq
3,862
Iran
3,257
UAE
2,916
14.7%
12.4%
11.1%
Kuwait
2,411
9.2%
5.1%
Nigeria
1,345
4.3%
Libya
1,136
3.5%
Venezuela
921
3.5%
Algeria
907
Congo
260
1.0%
Gabon
224
0.9%
Equatorial Guinea: 57 / 0.2%
Total: 26,251

*Organisation of the Petroleum Exporting Countries
Sources: Bloomberg, OPEC Annual Statistical Bulletin 2025
Pictures: Getty Images, Newscom, Chris F. via Pexels
© GRAPHIC NEWS