×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Wednesday
08
Jul 2026
weather symbol
Athens 32°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

Erdogan warns EU against excluding non-EU NATO allies from defence plans

Free air conditioners offered to vulnerable households by Athens Municipality – Who can apply

Trump praises Erdogan in Ankara and signals support for F-35 talks as Iran ceasefire unravels

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

Trump’s Iran rupture rattles markets as stocks slide, oil jumps more than 5.5% and bond yields surge

July 8, 2026

Erdogan warns EU against excluding non-EU NATO allies from defence plans

July 8, 2026

Eric Gales to perform in Athens at the Sweet Summer Sun Festival

July 8, 2026

Bloomberg: NATO weighs cancelling 2027 Albania summit amid fears of fresh Trump clash

July 8, 2026

Outrage in court as prosecutor seeks acquittal of officers accused of raping 19-year-old in Omonia police station

July 8, 2026

39-year-old woman found murdered near Kyiv had returned to Ukraine to collect €130,000 bounty over Monaco bombing

July 8, 2026

NATO leaders gathered for summit: The commemorative photo

July 8, 2026

Greek food shopping guide: how to avoid dangerous ingredients & not fall for food myths

July 8, 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