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2026-04-29 Arabia

UAE’s OPEC exit is that Abu Dhabi will flood the market and crash the price

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Posted by badanov 2026-04-29 00:00|| E-Mail|| Front Page|| [1811 views ] Top

1 UAE exit weakens OPEC+ power over oil market but group to stay together, sources say

The UAE will become the largest oil producer to depart OPEC, a heavy blow to the organization and its de facto leader Saudi Arabia. Abu Dhabi pumped around 3.4 million barrels per day (bpd) or about 3% of the world's crude supply before the U.S.-Israeli war on Iran forced it and other Middle East Gulf producers to curb shipments and shut down some production.

Once outside OPEC, the UAE will join the ranks of independent oil producers that pump at will, such as the United States and Brazil. For now, there is not much the UAE can do to increase production or exports due to the effective closure of shipping through the Strait of Hormuz. If and when shipping recovers to pre-war levels, the UAE could increase output to the country's capacity of 5 million bpd of crude oil and liquids.

Posted by Skidmark 2026-04-29 08:54|| 2026-04-29 08:54|| Front Page Top

2 Polls must have come in; looks like the 'Green Energy People' are trying to get some credit for this.

Posted by swksvolFF 2026-04-29 11:54|| 2026-04-29 11:54|| Front Page Top

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