OPEC: A move against the expansion of renewables

The United Arab Emirates is leaving OPEC, the most powerful oil cartel. This has to do with the Iran crisis – and is a victory for Donald Trump.

April 28, 2026, 8:20 p.m

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Article summary

The United Arab Emirates announces its withdrawal from OPEC, weakening the power of the oil cartel. The background is geopolitical tensions in the Persian Gulf, which are leading to a break with Iran. The USA is benefiting from the development and strengthening its position as the world’s largest oil producer. The UAE’s decision could affect oil prices and spur the expansion of renewable energy. A strategic move with far-reaching consequences for the global energy market.

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The beginning of the end for the world’s most powerful oil cartel came via press release. The Energy and Infrastructure Ministry of the United Arab Emirates (UAE) officially announced on Tuesday that the Gulf state’s membership in the Organization of Petroleum Producing Countries (OPEC) to be terminated on May 1st. This means that one of the founding members of OPEC is leaving after almost 60 years. The Emirates are OPEC’s third largest producer. Only Saudi Arabia and Iraq pump more oil.

The Emirates’ exit diminishes the power of the cartel, which derives influence over global oil prices from joint decisions on how much oil its members produce and sell. “This decision reflects the long-term strategic and economic vision of the United Arab Emirates and its changing energy profile, including increased investment in domestic energy production,” the ministry said in a statement.