×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Thursday
18
Jun 2026
weather symbol
Athens 25°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by Cloudevo
> Economy

Reuters: United Arab Emirates withdraws from OPEC, a major blow to the oil cartel

The withdrawal of the United Arab Emirates intensifies pressure on the global oil market and reshapes geopolitical balances

Newsroom April 28 04:13

Δείτε περισσότερα άρθρα μας στα αποτελέσματα αναζήτησης

Add Protothema.gr on Google

In a move with significant geopolitical and economic implications, the United Arab Emirates announced its withdrawal from OPEC and OPEC+, amid the deepest energy turmoil in recent years.

According to Reuters, the departure of one of the organization’s key members is expected to disrupt the functioning of the cartel, which has historically sought to present a united front despite internal disagreements over production and geopolitical strategy—particularly involving its de facto leader, Saudi Arabia.

The development comes at a time when oil exports from the Persian Gulf are facing serious obstacles, as navigation through the Strait of Hormuz has been significantly restricted due to Iranian threats and attacks. Approximately 20% of the global supply of oil and LNG passes through this route.

Geopolitical dimensions

The UAE’s decision is seen as indirectly strengthening the position of U.S. President Donald Trump, who has repeatedly accused OPEC of “exploiting” the global market through high oil prices.

Trump has also linked U.S. military protection for Gulf countries to their energy policies, arguing that Washington’s allies benefit unfairly from the situation.

>Related articles

The “X-ray” of the U.S.–Iran agreement signed by Trump: What Tehran gains, where Washington backed down, and the pitfalls for Israel

US releases details of agreement with Iran: Strait of Hormuz reopens, all sanctions lifted

US: Federal Judge dismisses case against Turkish Bank Halkbank

Rift in the Arab world

The UAE’s withdrawal also reflects Abu Dhabi’s dissatisfaction with its regional partners. Anwar Gargash, diplomatic adviser to the UAE president, publicly criticized what he described as insufficient political and military support from Gulf states during Iranian attacks.

As he stated, the stance of the Gulf Cooperation Council was “historically weak,” expressing surprise at the limited response from allies.

Ask me anything

Explore related questions

#economy#geopolitical#iran#oil#reuters#Strait of Hormuz#UAE#United Arab Emirates#world
> More Economy

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

Temperatures rise, meltemi winds persist, where it will rain today

June 18, 2026

At least €1 Billion for the Thessaloniki International Fair package – Which social groups the Maximos Mansion will target

June 18, 2026

The “X-ray” of the U.S.–Iran agreement signed by Trump: What Tehran gains, where Washington backed down, and the pitfalls for Israel

June 18, 2026

Kostas Karamanlis quotes Loukianos Kilaidonis & urges young people: Beware those in love with power & money

June 17, 2026

Famellos: We do not want and must not have a rival electoral list from Tsipras’ ELAS

June 17, 2026

PASOK internal clash over coalition strategy: “Your approach is ridiculous,” says Diamantopoulou to Doukas – “You supported ND,” replied the mayor

June 17, 2026

US Senate approves Eastern Mediterranean Gateway Act – “A vote of confidence,” says Papastavrou

June 17, 2026

US releases details of agreement with Iran: Strait of Hormuz reopens, all sanctions lifted

June 17, 2026
All News

> Greece

In reverence, the emotional deposition in Jerusalem, see photos & video

The Holy Temple of the Resurrection opened after many days due to the war between Israel and Iran

April 10, 2026

In the final stretch for the accreditation of joint master’s degrees: Aiming for their launch in the coming academic year

April 10, 2026

Schedule for Epitaph Procession today (10/4)

April 10, 2026

Perfect weather for Easter excursions, according to Tsatrafyllia’s forecast

April 10, 2026

Easter in Greece: The customs that continue in Greek tradition – From Nafpaktos to Corfu

April 10, 2026
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2026 Πρώτο Θέμα