Abu Dhabi, April 29 -- The United Arab Emirates (UAE) will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance from Friday, May 1, ending almost 59 years of membership in one of the world's most influential oil groups.

The decision, announced on Tuesday, April 28, marks one of the most significant shifts in Gulf energy strategy in recent years, with the UAE among OPEC's largest producers and its output ranging between roughly 3.2 million and 3.6 million barrels per day under quota arrangements, according to news agency Reuters.

Why is the UAE leaving?

UAE Energy Minister Suhail Mohamed al-Mazrouei said the move followed a review of current and future production policies, Reuters repor...