UAE Withdraws from OAPEC, Frames OPEC Exit as Sovereign Non-Hostile Move

UAE formally withdrew from OAPEC on May 4, fully severing ties with OPEC bodies after its May 1 OPEC exit, downplaying the move as a sovereign decision 'not directed against anyone' amid the ongoing U.S.-Iran war and Strait of Hormuz closure. The crisis erupted March 9 with Gulf production plunging to 35.06 mb/d (down 7.7 mb/d from February), prompting UAE's April 28 departure announcement. OPEC+ responded May 3 with a symbolic 188,000 bpd June quota hike excluding UAE, as analysts warn of medium-term oversupply risks from UAE's 5 mb/d capacity target by 2027 once Hormuz reopens, with Brent easing to $108/bbl from $125+ peaks.