UAE exits OPEC, cutting the group’s projected 2025 global output share to 31%

The United Arab Emirates has formally left OPEC, a move that reduces the group’s projected share of global crude output in 2025 from 35% to 31%. OPEC+’s share is also set to slip from 46% to 42% once the UAE is excluded. The UAE, an OPEC member since 1967 and long the bloc’s third-largest producer by capacity, is leaving amid rising geopolitical risks around the Strait of Hormuz.