# UAE leaves OPEC: oil outlook for traders | IG International

> The UAE announced its withdrawal from OPEC and OPEC+, effective 1 May 2026, ending a membership dating to 1967. The UAE had produced about 3.4 mb/d before the conflict and could add up to 1.6 mb/d to markets once the Strait of Hormuz reopens.

- Date: 2026-04-29 · published 2026-04-29T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/19888-uae-leaves-opec-oil-outlook-for-traders-ig-international
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The loss of UAE quota discipline could add meaningful supply after Hormuz reopens, a bearish medium-term factor for crude that would ease energy costs for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-25 | [Oil Drops Near $102 as Traders Weigh Outlook for US-Iran Truce \| Financial Post](https://feedsoft.ai/events/8156-oil-drops-near-102-as-traders-weigh-outlook-for-us-iran-truce-financial-post.md) | +15.0% | +1.0% |
| BRENT | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -12.2% | -1.1% |
| BRENT | 2024-11-26 | [​Brent crude oil, silver and wheat prices drop on Middle East de-escalation​ \| Levels to Watch \| IG International](https://feedsoft.ai/events/11779-brent-crude-oil-silver-and-wheat-prices-drop-on-middle-east-de-escalation.md) | -1.8% | -1.7% |
| BRENT | 2022-06-02 | [OPEC+ brings forward oil output rises as Biden's Saudi visit looms \| Reuters](https://feedsoft.ai/events/40834-opec-brings-forward-oil-output-rises-as-biden-s-saudi-visit-looms-reuters.md) | +6.0% | -0.6% |
| BRENT | 2017-08-31 | [As oil prices weather storm, OPEC looks for long-term boost from Harvey](https://feedsoft.ai/events/69601-as-oil-prices-weather-storm-opec-looks-for-long-term-boost-from-harvey.md) | +5.8% | +13.5% |
| WTI | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -6.6% | +6.7% |
| WTI | 2022-06-02 | [OPEC+ brings forward oil output rises as Biden's Saudi visit looms \| Reuters](https://feedsoft.ai/events/40834-opec-brings-forward-oil-output-rises-as-biden-s-saudi-visit-looms-reuters.md) | +5.8% | -7.1% |
| WTI | 2017-08-31 | [As oil prices weather storm, OPEC looks for long-term boost from Harvey](https://feedsoft.ai/events/69601-as-oil-prices-weather-storm-opec-looks-for-long-term-boost-from-harvey.md) | +6.8% | +12.3% |

## Sources

- ig.com: https://www.ig.com/en/news-and-trade-ideas/uae-exits-opec-implication-on-oil-260429

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.