OPEC

Timeline

1. 2 Aug2026
   Economy

   OPEC+ approves 188,000 bpd output rise for September¹²³

   Seven OPEC+ countries meeting virtually on 2 August 2026 agreed to raise September output by 188,000 barrels per day, completing the phased rollback of the 1.65 million bpd voluntary cut announced in April 2023.

   • Decision 2 August 2026 by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman
   • 188,000 bpd increase for September
   • Completes the unwinding of the 1.65 million bpd cut first announced in April 2023
   • Group may speed up compensation for earlier overproduction; next meeting set for 6 September
2. 28 Apr2026
   Economy

   UAE announces exit from OPEC and OPEC+ from 1 May⁴⁵⁶⁷

   The UAE announced on 28 April that it will quit OPEC and OPEC+ with effect from 1 May, citing its long-term energy strategy and wish to use its larger capacity. OPEC is left with 11 members.

   • UAE announced its exit on 28 April 2026 through the state news agency WAM
   • Effective 1 May 2026
   • Covers both OPEC and the wider OPEC+ alliance
   • UAE had been pushing for a higher quota than its 3.5 million barrels a day against built capacity
   • UAE had been a member since 1967 (as Abu Dhabi); OPEC left with 11 members

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Sources

1. The Tribune
2. Arab News
3. Asharq Al-Awsat
4. Khaleej Times
5. Journal of Petroleum Technology
6. Enerdata
7. Hydrocarbon Engineering