Skip next section Trump hails UAE's OPEC exit as Brent oil briefly reaches $119 per barrel April 29, 2026

Trump hails UAE's OPEC exit as Brent oil briefly reaches $119 per barrel

US President Donald Trump on Wednesday hailed the UAE's exit from the OPEC group, just as the price of a barrel of Brent crude briefly rose above $119 (roughly €101.73).

Trump said he believed the UAE's OPEC exit could help lower oil prices.

"I think it's great," ​Trump ‌said when asked by reporters at the White House what he thought ‌of the UAE's decision. "I think ultimately ​it's a ‌good thing for getting the price of gas down, ​getting ⁠oil down, getting everything down."

The UAE announced its decision to quit OPEC and OPEC+ on Tuesday, dealing a blow to the oil producer cartels amid an unprecedented energy crisis.…