The UAE officially withdraws from “OPEC+”… Observers: declaration of economic war on Riyadh and a gift to Trump and Netanyahu

Exclusive Follow-ups – Al-Khabar Al-Yemeni:

The UAE announced this evening that it will withdraw from the “OPEC” organization and the “OPEC+” alliance, led by Saudi Arabia in partnership with Russia, effective May 1st. Observers described this step as an “oil earthquake” that redraws the energy alliances in the region and opens the door wide for Gulf-Gulf conflict over oil prices and regional influence.

The decision came in a brief statement from the Emirates News Agency “WAM.”

This comes after Abu Dhabi had been rejecting “OPEC+” policies that restrict its production for months, demanding a higher quota commensurate with its massive investments in developing its oil fields, whose production capacity has exceeded 4 million barrels per day.

In recent “OPEC+” meetings, the UAE demanded raising its quota to 4.5 million barrels per day, compared to 3.2 million in the official quota, a request that faced Saudi-Russian rejection.

The UAE has the capacity to immediately increase its production by 500,000 to one million barrels per day, which would lower global oil prices.

According to “Bloomberg” economic estimates, Saudi Arabia needs a price ranging between $84 and $106 per barrel to balance its budget and finance “Vision 2030.”

Reports indicate that the UAE can afford prices of up to $50.

If Abu Dhabi decides to “open the taps,” prices could collapse below $70, meaning a Saudi deficit reaching 15% of its GDP, as estimated by the Institute of International Finance.

Observers and analysts believe that “the UAE’s withdrawal from OPEC+ is a direct gift to Trump and Israel.” Washington wants cheap oil to lower inflation, and “Tel Aviv” wants to weaken any Arab tool that could be used for economic pressure against it.