UAE: OPEC exit long expected, may ease oil prices after Iran war ends - experts.

Shotlist Abu Dhabi, UAE - July 20, 2018 (CCTV - No access Chinese mainland) 1. Presidential Palace Abu Dhabi, UAE - Date Unknown (CCTV - No access Chines mainland) 2. National flag of UAE Beijing, China - May 2, 2026 (CGTN - No No access Chinese mainland) 3. Graphic showing UAE's oil production capacity per day before and after leaving OPEC Dubai, UAE - May 2, 2026 (CGTN - No No access Chinese mainland) 4. SOUNDBITE (English) John Defterios, senior advisor for APCO Worldwide; senior fellow at Center for Energy and Materials of World Economic Forum: "It gives the UAE flexibility to move from a quota within OPEC of 3.3 million barrels a day to 5 million barrels a day in 2027. It won't radically change the pricing. It will make more energy available. So, it will take some of the price pressures off." Vienna, Austria - Date Unknown (CCTV - No access Chinese mainland) 5. Various of facade of OPEC headquarters, traffic Dubai, UAE - May 2, 2026 (CGTN - No No access Chinese mainland) 6. SOUNDBITE (English) Robin Mills, CEO, Qamar Energy (ending with shot 7): "It has no impact right now, because obviously oil prices right now depend on the state of the war and whether exports can start freely through the Gulf and so on. But assume, once the war is over and a normal transit resumes, I would expect the UAE will move quickly to increase production and try to refill some of that storage that was drained. And that should mean, in general, lower prices for oil importers, for oil consumers, in general. In the longer term, yes, I think also probably it means lower prices." Abu Dhabi, UAE - May 1, 2026 (CCTV - No access Chinese mainland) 7. Various of headquarters, sign of Abu Dhabi National Oil Company (ADNOC); national flag of UAE Dubai, UAE - May 2, 2026 (CGTN - No No access Chinese mainland) 8. SOUNDBITE (English) Robin Mills, CEO, Qamar Energy (ending with shot 9): "This pressure has been building up for some time. But Saudi Arabia was also in a difficult position. If it agreed to grant higher production levels to the UAE, then it would have to grant them to Iraq as well. And Kazakhstan wanted more [allowance as well]. Everybody wants special treatment." Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland) 9. Various of oil field facilities, pipelines, fire Saudi Arabia - Date Unknown (CCTV - No access Chinese mainland) 10. Various of workers at oil refinery Dubai, UAE - May 2, 2026 (CGTN - No No access Chinese mainland) 11. SOUNDBITE (English) John Defterios, senior advisor for APCO Worldwide; senior fellow at Center for Energy and Materials of World Economic Forum (partially overlaid with shots 12-14): "They made this announcement ahead of a very important forum, Make It In the Emirates, which displays what the UAE is doing in terms of diversification outside of oil and gas. So, they want that revenue from oil and gas -- the extra 50 billion dollars a year to go into greater diversification. It's advanced manufacturing, it's artificial intelligence, it's the next wave of financial services, and it is trade." ++SHOTS OVERLAYING SOUNDBITE++ Dubai, UAE - 2024 (CCTV - No access Chinese mainland) 12. Robot on display at 44th Gulf Information Technology Exhibition (GITEX) 13. Visitors at expo 14. Visitor experiencing tech equipment ++SHOTS OVERLAYING SOUNDBITE++ Ras Al Khaimah, UAE - Nov 28, 2025 (CGTN - No access Chinese mainland) 15. Port facilities Ras Al Khaimah, UAE - 2025 (Courtesy of RAK Ports - No access Chinese mainland) 16. Aerial shots of port, construction site Dubai, UAE - May 2, 2026 (CGTN - No No access Chinese mainland) 17. SOUNDBITE (English) Robin Mills, CEO, Qamar Energy: "I do think it shows definitely a world in which there's a new energy reality, there's a new climate reality, there's a new geopolitical reality. And these legacy institutions have to adapt. And if they don't, then of course, their members will either leave or at least won't take them seriously." Abu Dhabi, UAE - Date Unknown (CCTV - No access Chinese mainland) 18. Aerial shots of cityscape, national flag of UAE UAE - Date Unknown (CCTV - No access Chinese mainland) 19. Aerial shot of skyscrapers Storyline The United Arab Emirates' (UAE) exit from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ is unlikely to jolt oil markets in the short term, but sets the stage for lower prices once the Iran conflict ends and Gulf exports resume, experts said. Effective Friday, the UAE formally withdrew from OPEC in a move poised to reshape global oil markets. The decision came amid heightened geopolitical tensions driven by the ongoing Iran conflict. The UAE Energy Minister Suhail Al Mazrouei said the timing was chosen to cause the least market disruption. But analysts say the exit reflects the UAE's long-simmering frustrations over production quotas that no longer align with its capacity. "It giv