UAE Exit from OPEC+ May Ease Oil Prices, Offer Relief to India

Brief By Newsbrief / 11:57 AM on 29 Apr 2026

Fuel prices in India could see relief as the United Arab Emirates plans to exit the OPEC+ alliance from May 1, 2026, a move that may increase global oil supply. As one of the largest producers in the group, the UAE has long disagreed with production limits and aims to expand its output capacity significantly by 2027. Increased supply in the global market could put downward pressure on crude oil prices, benefiting major importers like India.

However, the situation remains complex due to rising geopolitical tensions, particularly between Iran and the United States, which continue to threaten supply chains and keep prices volatile. Crude oil prices are currently hovering above $100 per barrel, reflecting this uncertainty. Experts believe that while the UAE’s decision could provide some relief, any sustained reduction in petrol, diesel, and LPG prices in India will depend on how global tensions evolve in the coming months.