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UAE said on Tuesday it would leave OPEC and the wider OPEC+ alliance from May 1.
Goldman Sachs says UAE's OPEC exit poses greater medium-term oil supply upside risk than short-term.
KEY POINTS
- UAE's departure could allow it to increase crude output once Gulf export routes reopen.
- Goldman estimates UAE's potential crude production at just over 4.5 million bpd by February 2026.
- ADNOC plans to raise UAE production capacity to 5 million bpd by 2027.
COMPANIES
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