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CommoditiesMediumUpdated×7•Originally published 3 May 2026•Updated 4 May 2026•

1 min read

OPEC+ Hikes Output by 188k BPD in First Meeting Since UAE Departure

Key Facts

1OPEC+ announced it will raise oil output by 188,000 barrels per day for the month of June.

2This marks the cartel's first meeting since the shock departure of the United Arab Emirates last week.

OPEC+ nations announced a production increase of 188,000 barrels per day effective June, marking the first meeting since the UAE's official withdrawal from the group on May 1. Following this exit, a massive allocation of $55 billion (200 billion dirhams) has been designated for new ADNOC projects over the next two years. Sultan Al Jaber, CEO of ADNOC, framed the move as a strategic repositioning aimed at maximizing national interests and industrial growth. Analysts view the OPEC+ hike as largely symbolic given the ongoing logistical bottlenecks in the Strait of Hormuz. Market participants are now focusing on the impact of ADNOC's substantial investment plan on long-term global supply capacity. This shift underscores the UAE's pivot toward independent energy scaling while the alliance struggles to balance a market hampered by regional instability.

about 1 month ago

Version History

2 additional sources confirmed this story

Version 7about 1 month ago

What changed: Added details regarding the $55 billion allocation for ADNOC projects and the official May 1 effective date for the UAE's OPEC withdrawal.

Version 6about 1 month ago

What changed: Added context for Sultan Al Jaber's remarks at the 'Make It In The Emirates' conference, clarifying his ministerial role and framing the exit as a 'strategic repositioning'.

Version 5about 1 month ago

What changed: Added statements from ADNOC's CEO regarding the rationale behind the UAE's withdrawal from the alliance.

Version 4about 1 month ago

What changed: Clarified that this is the third consecutive monthly hike and specified that seven countries are involved in the output adjustment.

Version 3about 1 month ago

What changed: Specified June as the implementation month for the production hike and characterized the move as 'symbolic'.

Version 2about 1 month ago

What changed: The story was updated to specify that the decision was made on Sunday and to explicitly link the move to the ongoing war with Iran as the primary driver of supply disruptions.

Version 1about 1 month ago

What changed: Added critical context regarding stalled waterway negotiations and the Strait of Hormuz closure, which negates the impact of the production hike.