Oil math: OPEC’s global crude share could slip from 35% to 31% without UAE

The United Arab Emirates’ exit from OPEC has significantly impacted the group’s global crude oil output, reducing its share from 35% to 31%. This move, effective May 1, 2026, highlights the UAE’s substantial role in the bloc. Meanwhile, regional disruptions due to the Strait of Hormuz closure are escalating, with Iraq, Saudi Arabia, and Kuwait facing major production shut-ins.