This decision does raise questions about whether this withdrawal is limited to oil markets alone or if the OPEC withdrawal is a precursor to broader Emirati realignment. 6 min read Apr 29, 2026 04:16 PM IST First published on: Apr 29, 2026 at 04:16 PM IST On Tuesday, the UAE announced that it was leaving OPEC. After almost 60 years of membership, its exit is significant because this comes on the back of escalating disagreements with Saudi Arabia on regional conflicts in the last few years, most notably in Sudan and Yemen. Immediately, this move will likely have little impact on oil markets given the ongoing blockade of the Strait of Hormuz. However, in the medium to long run, it could be significant. The differing economic and oil production philosophies of Saudi Arabia and the UAE have now been laid bare. At least historically, Saudi Arabia has generally supported constraining supply and maintaining a high global price environment.…