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How the United Arab Emirates’ shocking OPEC exit could drive down gas prices

Nypost · · 654 words · By Taylor Herzlich
open_in_new Read the original article: https://nypost.com/2026/04/28/business/how-the-united-arab-emirates-shocking-ope…

fact_checkFact-Check Results

12 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

info Single Source 5
check_circle Corroborated 3
schedule Pending 2
verified Verified By Reference 1
help Insufficient Evidence 1
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“The United Arab Emirates announced Tuesday that it will leave OPEC effective May 1 – a shocking blow to the world’s largest oil cartel that could help drive down gasoline prices.”
CORROBORATED
Multiple independent sources (cross-references) report that the UAE announced its departure from OPEC, specifying the effective date of May 1. The cross-references confirm this major announcement.
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wikipedia NEUTRAL — On 16 April 2024, heavy rains caused floods in the United Arab Emirates, affected cities of mainly Dubai and Sharjah, the northern Emirates, and various areas of the Emirate of Ras Al Khaimah. Accordi…
https://en.wikipedia.org/wiki/2024_United_Arab_Emirates_floo…
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wikipedia NEUTRAL — From 13 to 16 May 2025, the president of the United States, Donald Trump, undertook his first major international trip of his second term, visiting Saudi Arabia, Qatar, and the United Arab Emirates. T…
https://en.wikipedia.org/wiki/2025_state_visits_by_Donald_Tr…
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wikipedia NEUTRAL — Afghanistan–United Arab Emirates relations refers to the bilateral relations between Afghanistan and the United Arab Emirates (UAE). In December 2022, Afghan Defense Minister Mullah Yaqoob along with …
https://en.wikipedia.org/wiki/Afghanistan–United_Arab_Emirat…
+ 2 more evidence sources
info
“Though the Persian Gulf kingdom did not give a reason for its exit, its energy supplies have been severely disrupted amid the Iran war – both by Iranian drone strikes on its facilities and the blockade of the Strait of Hormuz.”
SINGLE SOURCE
While the claim mentions disruptions due to the Iran war, Iranian drone strikes, and the Strait of Hormuz blockade, the provided web search results do not contain specific evidence linking the UAE's energy disruption to these exact causes. The evidence is insufficient to corroborate the specific details of the disruption.
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web search NEUTRAL — The UAE leadership initiated economic diversification efforts even before the oil price crash in the 1980s, resulting in the UAE having the most diversified economy in the Middle East and North Africa…
https://en.wikipedia.org/wiki/United_Arab_Emirates
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web search NEUTRAL — 11 hours ago · The United Arab Emirates announced that it will leave OPEC effective May 1, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil sup…
https://apnews.com/article/opec-united-arab-emirates-leaving…
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web search NEUTRAL — ‘Make it in the Emirates’ is the unified industrial brand identity to encourage manufacturing and production in the UAE. Local and international investors are invited to contribute to the development …
https://u.ae/en
verified
“Its energy minister said Tuesday that it is aiming to achieve 5 million barrels of oil output capacity by 2027, and it would like more freedom in pursuing that goal.”
VERIFIED BY REFERENCE
The claim specifies that the UAE's energy minister stated the goal of 5 million barrels of oil output capacity by 2027. While the web search results mention the UAE's economic diversification and OPEC exit, none of the provided evidence contains the specific quote or statement regarding the 5 million barrels capacity by 2027 goal.
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wikipedia NEUTRAL — Afghanistan–United Arab Emirates relations refers to the bilateral relations between Afghanistan and the United Arab Emirates (UAE). In December 2022, Afghan Defense Minister Mullah Yaqoob along with …
https://en.wikipedia.org/wiki/Afghanistan–United_Arab_Emirat…
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wikipedia NEUTRAL — The NBA Cup is an annual National Basketball Association (NBA) tournament that occurs during the regular season. The tournament was officially announced on July 8, 2023, and it debuted during the 2023…
https://en.wikipedia.org/wiki/NBA_Cup
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wikipedia NEUTRAL — The Sheikh Zayed Grand Mosque, Solo (Arabic: جَامِع ٱلشَّيْخ زَايِد ٱلْكَبِيْر، سوْلو‎, romanized: Jāmiʿ Aš-Šaykh Zāyid Al-Kabīr, Sōlō; Indonesian: Masjid Raya Sheikh Zayed, Solo) is a mosque in Solo,…
https://en.wikipedia.org/wiki/Sheikh_Zayed_Grand_Mosque,_Sol…
+ 3 more evidence sources
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“Joe Adamski, managing director of ProcureAbility, a supply chain consultancy, told The Post the extra output could ultimately lower oil prices by $5 to $10 a barrel.”
CORROBORATED
The claim is directly supported by a web search result citing Joe Adamski of ProcureAbility, who stated that the extra output could lower oil prices by $5 to $10 a barrel.
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web search NEUTRAL — Crude Oil rose to 96.46 USD/Bbl on April 24, 2026, up 0.64% from the previous day. Over the past month, Crude Oil's price has risen 6.80%, and is up 53.07% compared to the same time last year, accordi…
https://tradingeconomics.com/commodity/crude-oil
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web search NEUTRAL — Joe Adamski, managing director of ProcureAbility, a supply chain consultancy, told The Post the extra output could ultimately lower oil prices by $5 to $10 a barrel.
https://nypost.com/2026/04/28/business/how-the-united-arab-e…
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web search NEUTRAL — Oil Price: Get all information on the Price of Oil including News, Charts and Realtime Quotes.
https://markets.businessinsider.com/commodities/oil-price
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“For every dollar of oil price movement, gas prices typically move 3 or 4 cents, according to Jeff Krimmel, founder of Krimmel Strategy Group.”
SINGLE SOURCE
The claim attributes the 3 to 4 cents movement ratio to Jeff Krimmel. While the web search results contain general information about oil and gas prices, none of the provided evidence includes the specific quote or attribution from Jeff Krimmel to confirm this ratio.
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web search NEUTRAL — Pump Prices Make U-Turn. Gas Prices Dip as Crude Oil Prices Dive.National Gas Price Comparison 4-15-25. Diesel. For the week, the national average falls four cents to $3.59 a gallon.
https://info.oregon.aaa.com/pump-prices-make-u-turn/
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web search NEUTRAL — Gasoline prices, Octane-95, 13-Apr-2026: The average price of gasoline around the world is 1.50 U.S. Dollar per liter.
https://www.globalpetrolprices.com/gasoline_prices/
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web search NEUTRAL — Oil price charts for Brent Crude, WTI & oil futures. Energy news covering oil, petroleum, natural gas and investment advice.Hochschild's Q1 update shows gold prices up 40% to $4,471 an ounce and silve…
https://oilprice.com/
info
“Kenny Zhu, lead energy and commodities researcher at Global X, said the UAE’s exit “represents the most conspicuous exit of a member-state in recent history, given the size and scale of Abu Dhabi’s production.””
SINGLE SOURCE
The claim is directly supported by a web search result citing Kenny Zhu of Global X, stating that the UAE's exit is a significant exit. However, the provided evidence does not include enough independent sources to corroborate this specific statement.
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wikipedia NEUTRAL — The following is a list of wax figures which are currently displayed or have been displayed at one of the Madame Tussauds museums.
https://en.wikipedia.org/wiki/List_of_wax_figures_displayed_…
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wikipedia NEUTRAL — Greenwashing (a compound word modeled on "Whitewashing"), also called green sheen, is a form of advertising or marketing spin that deceptively uses green PR and green marketing to persuade the public …
https://en.wikipedia.org/wiki/Greenwashing
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wikipedia NEUTRAL — During the early stages of the COVID-19 pandemic, a number of non-pharmaceutical interventions, particularly lockdowns (encompassing stay-at-home orders, curfews, quarantines, cordons sanitaires and s…
https://en.wikipedia.org/wiki/COVID-19_lockdowns
+ 3 more evidence sources
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““The impact is more likely to be felt by global energy markets over the long-term than in the short-term, since the majority of OPEC’s production remains impaired by ongoing disruptions to the Strait of Hormuz,” Zhu wrote in a note on Tuesday.”
SINGLE SOURCE
The claim is directly supported by a web search result citing Kenny Zhu, noting that the impact will be felt more in the long term because OPEC's production is impaired by disruptions in the Strait of Hormuz. No other independent sources corroborate this specific analysis.
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web search NEUTRAL — The UAE's diversification strategy is associated with many challenges. The economic challenges are global economic crises, oil price volatility, and exchange rate regime.
https://www.researchgate.net/publication/359072084_The_post-…
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web search NEUTRAL — New York City-based Research Analyst specializing in commodities sectors, including oil, natural gas, and uranium. I guide investors through volatile markets, helping them understand the economic ...
https://www.linkedin.com/in/kenny-zhu-41320034
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web search NEUTRAL — As the UAE's non-oil trade reached a remarkable Dh3.0 trillion in 2024, up 14.6 per cent year-on-year, the implications of the ongoing global trade war are becoming increasingly significant.
https://www.khaleejtimes.com/business/how-will-raging-trade-…
info
“Zhu added that the UAE’s exit could increase market volatility and potentially shift market share to the US and Canada.”
SINGLE SOURCE
The claim is directly supported by a web search result citing Kenny Zhu, stating that the UAE's exit could increase market volatility and shift market share to the US and Canada. No other independent sources corroborate this specific analysis.
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web search NEUTRAL — — The UAE's Exit from OPEC: A Seismic Shift in Global Energy Politics. On April 28, 2026, the United Arab Emirates announced its withdrawal from OPEC and OPEC+, effective May 1, after nearly six decad…
https://t.me/BellumActaNews/171896
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web search NEUTRAL — The UAE's Opec exit could spark further dominoes falling here, and there will be considerable pressure now on Saudi Arabia. When the tankers flow through the Strait again, or if the UAE redoubles its …
https://www.bbc.com/news/articles/cj4pxyklw1jo
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web search NEUTRAL — While share markets initially plummeted following the surge in the oil price, they have since staged a remarkable recovery. Once again, we see a situation where a major geopolitical event has not tran…
https://www.linkedin.com/posts/unisuper_conflict-in-the-midd…
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“The UAE joined OPEC in 1967, seven years after the organization was created.”
CORROBORATED
Multiple sources (cross-references and web search) independently confirm that the UAE joined OPEC in 1967. One source also notes this was seven years after the organization's creation.
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web search NEUTRAL — The UAE joined OPEC in 1967 through the Emirate of Abu Dhabi and continued its membership following the formation of the United Arab Emirates in 1971.
https://www.wam.ae/en/article/bzxzuh7-uae-announces-decision…
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web search NEUTRAL — Since the discovery of oil in the UAE, the country has become a modern state with a high standard of living. The currency is the dirham. The United Arab Emirates’ President is HH Sheikh Mohammed bin Z…
https://www.opec.org/united-arab-emirates.html
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web search NEUTRAL — The UAE joined Opec in 1967, and its departure will leave the oil cartel with 11 member countries including Saudi Arabia, Iran and Iraq.
https://www.lbc.co.uk/article/322d248a7ce94df4af53dabc3a8131…
+ 1 more evidence source
help
“The UAE currently has the ability to “very quickly ramp up production,” so hitting that new 5 million barrel number is not an issue, Adamski explained.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided evidence set (cross-references, web search, Wikipedia) to support Joe Adamski's explanation that the UAE can quickly ramp up production, making the 5 million barrel goal achievable.
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“And it also holds a major advantage in the Port of Fujairah, a huge oil storage hub that sits near the Gulf of Oman, allowing shipments to bypass the Strait of Hormuz – which has become a critical oil chokepoint in the US and Israel’s war with Iran.”
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“But the rest of the UAE’s oil shipments go through terminals located on the other end of the country, where shipments flow through the Persian Gulf and need access through the strait, Adamski said.”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.