UAE Exits OPEC+ May 1 Amid Supply Cuts, Driving Oil Volatility Higher

The UAE announced it will leave OPEC+ on May 1, 2026, weakening the group's cohesion amid severe supply disruptions from the U.S.-Iran war and Strait of Hormuz closure. Gulf OPEC+ output plunged about 8 million bpd in March versus February, slashing spare capacity and seaborne exports to 34.7%. Previously producing 3.3 million bpd with 4.5-5.0 million bpd capacity, the UAE's departure—following two explanatory articles on OPEC+'s ~50% share of 2025 global oil production—intensifies supply constraints, propelling higher oil prices and market swings.