New Delhi, May 1 -- The United Arab Emirates' (UAE) decision to exit the Organization of the Petroleum Exporting Countries (OPEC) may have far-reaching implications for global energy markets, potentially reshaping supply strategies and price dynamics, according to a sector update report by ICICI Securities.

The report described the move as a major shift in the global oil landscape, ending a decades-old production alignment within the cartel. "The UAE's announcement of its formal exit from OPEC... breaks a 65-year-old system of the OPEC cartel," it said, adding that the development could weaken the group's ability to manage oil supply cohesively.

ICICI Securities noted that while the immediate impact may remain limited due to ongoing dis...