U.A.E. Exit From OPEC Leaves Cartel Without One of Its 'Core Pillars' -- Market Talk

Dow Jones04-28 21:31

1329 GMT - The United Arab Emirates's decision to exit from OPEC and OPEC+ marks a significant shift, removing one of the "core pillars" underpinning the cartel's ability to manage the market, says Jorge Leon from Rystad Energy. "Losing a member with 4.8 million barrels per day of capacity, and the ambition to produce more, takes a real tool out of the group's hands," the head of geopolitical analysis says. "Saudi Arabia is now left doing more of the heavy lifting on price stability, and the market loses one of the few shock absorbers it had left." The U.A.E. was the third-largest oil producer in OPEC in March, behind Saudi Arabia and Iraq. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

April 28, 2026 09:31 ET (13:31 GMT)

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(giulia.petroni@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 28, 2026 09:31 ET (13:31 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.A.E. 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