Iran War Day 60: UAE Announces Exit from OPEC; Trump Declares Iran 'In State of Collapse'

On Day 60 of the US-Israel-Iran war (April 28, 2026), the United Arab Emirates announced it will formally exit OPEC and OPEC+ within the week — citing the oil cartel's inability to manage supply stability amid the ongoing Iran-US conflict and Tehran's Hormuz disruption strategy. The move, which removes a 3.3 million barrel/day producer from the cartel, sent oil prices sharply higher before partially recovering. In Washington, President Trump declared Iran is 'in a state of collapse' and warned Tehran had 'better get smart soon,' signaling no new diplomatic concessions are forthcoming. The Strait of Hormuz ceasefire technically continued into Day 60, but Iran's Foreign Ministry said it has 'nothing to discuss' with the United States until the naval blockade is lifted. Iran's acting Supreme Leader Mojtaba Khamenei remained silent publicly. The Trump NSC met to assess the UAE's OPEC departure's implications for global energy markets. Brent crude closed at approximately $97/barrel, up from $90-level lows following the ceasefire extension, as markets factored in the UAE's OPEC departure and continued Hormuz uncertainty.