Trump says UAE’s OPEC exit could help lower gasoline prices

U.S. President Donald Trump said on Wednesday that he welcomed the United Arab Emirates’ decision to leave OPEC and believed the move could help bring down gasoline, oil and other energy prices.

“I think it’s great,” Trump said at the White House when asked about the UAE move. “It’s a good thing for getting the price of gas down, getting oil down, getting everything down.”

Analysts say the market impact may be limited in the near term, with oil prices still being driven mainly by disruption linked to the Strait of Hormuz and the broader Iran war, while the UAE’s exit raises medium-term supply risks.