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Explainer-What is OPEC+ and how does it affect oil prices?
April 28, 2026
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LONDON, April 28 (Reuters) - The United Arab Emirates, one of OPEC+'s largest producers, will leave the oil producers' alliance on May 1, it said on Tuesday.The Organization of the Petroleum Exporting Countries and allies, including Russia, are known collectively as OPEC+. Last year, the group produced nearly 50 of the world's oil and oil liquids, according to International Energy Agency estimates.
The UAE is the fourth largest producer in OPEC+.Below are facts about OPEC+ and its role.WHAT ARE OPEC AND OPEC+?
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