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editorial
The UAE Left OPEC After 59 Years. Saudi Arabia Lost Its Swing-Producer Leverage.
The UAE ended 59 years of OPEC membership on 1 May 2026 — the largest producer ever to leave. Its June output hit a record 4.1m bpd outside the quota system, while Saudi Arabia holds an allocation it cannot fill. What the exit does to Riyadh's swing-producer leverage, and how to read the contested output numbers.