Today Explained

UAE exits OPEC Gas prices spike to highest in 4 years


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The United Arab Emirates (UAE) officially announced on Tuesday, April 28, 2026, that it will withdraw from OPEC and OPEC+ effective May 1, 2026. This "bombshell" decision ends nearly 60 years of membership and marks a significant shift in global energy politics.
Simultaneously, U.S. gasoline prices have spiked to a four-year high, with the national average reaching $4.17–$4.18 per gallon as of April 29.

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