Power Balance 2026: Iraq Adheres to "OPEC+" to Stabilize Prices, as Mazrouei Labels UAE Withdrawal a "Political" Decision

 Senior Iraqi oil officials confirmed on Tuesday, April 28, 2026, that Baghdad has no plans to exit OPEC or OPEC+, emphasizing the need for a strong organization to stabilize global oil prices. This stance aims to reassure markets following the shock of the UAE’s withdrawal. Meanwhile, UAE Energy Minister Suhail Al-Mazrouei described the exit as a strategic "political" move to gain marketing flexibility amid regional instability and tensions in the Strait of Hormuz during the Spring 2026 energy crisis.