UAE Announces Withdrawal from OPEC and OPEC+, Trump Could Be the "Biggest Winner"

Odaily reported that the UAE announced on Tuesday its withdrawal from OPEC and OPEC+ effective May 1, dealing a heavy blow to the organization and its de facto leader, Saudi Arabia, against the backdrop of a historic energy shock triggered by the Iran war that is shaking the global economy. As a long-term member of OPEC, the UAE's unexpected announcement of withdrawal could plunge the organization into chaos and weaken its influence—even though OPEC typically strives to present a unified stance despite internal divisions on issues ranging from geopolitics to production quotas. This could be a major victory for US President Trump, who has accused the organization of "blackmailing the rest of the world" by raising oil prices. Trump has also linked US military support for the Gulf region to oil prices, stating that while the US defends OPEC members, they "take advantage of this by setting high oil prices." The UAE is a regional commercial hub and one of Washington's most important allies. This move comes after the UAE criticized other Arab nations for failing to take sufficient measures to protect it from repeated Iranian attacks during the war. (Jinshi)