What's New
June 23, 2026 Today in Energy ›
UAE’s exit from OPEC+ reduced the group’s share of crude oil production and capacity ›
On April 28, 2026, the United Arab Emirates (UAE) announced that it was leaving OPEC, effective on May 1. OPEC was formed in 1960 by Iraq, Iran, Kuwait, Saudi Arabia, and Venezuela, with the stated objective to “co-ordinate and unify petroleum policies among Member Countries.” OPEC is best known for its effect on global crude oil prices. More ›
U.S. Energy Information Administration, Short-Term Energy Outlook, June 2026
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