Prince Abdulaziz bin Salman

Built World

De facto leader of OPEC+ output policy

For decades, every OPEC+ output decision had the United Arab Emirates in the room, usually pushing to pump more. On Sunday, ministers met in Vienna without it for the first time. The UAE's exit took effect May 1 and pulled about 3.5 million barrels a day out of the group's quota math.

Updated Jun 7

Money Moves

Loses key OPEC+ ally; must decide whether to defend prices alone

The United Arab Emirates joined OPEC in 1967, when crude sold for under $2 a barrel. On May 1, 2026, after fifty-nine years, it walks out—taking roughly 13% of OPEC's production capacity, according to the International Energy Agency.

Updated May 31