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United Arab Emirates says it will leave OPEC amid energy turmoil
The move ends nearly six decades of membership and could weaken OPEC’s ability to manage supply as the UAE seeks more output freedom.
- On Tuesday, the United Arab Emirates announced its withdrawal from the Organisation of the Petroleum Exporting Countries and OPEC+, effective May 1, 2026. The move aims to accelerate domestic energy investment as part of its long-term strategic vision.
- The decision follows decades of cooperation since the UAE joined OPEC in 1971. Diplomatic tensions have risen as Presidential advisor Anwar Gargash criticized Gulf Cooperation Council allies on Monday for their "weak" collective response to Iranian attacks.
- Energy prices jumped as U.S. West Texas Intermediate crude reached nearly $102 per barrel following the announcement. President Donald Trump welcomed the exit, having accused OPEC of "ripping off the rest of the world" by inflating oil prices.
- State-Run news agencies reported that the UAE will continue "bringing additional production to market in a gradual and measured manner." This policy shift addresses long-term economic visions amid ongoing instability in the Strait of Hormuz.
- Threats against vessels in the Strait of Hormuz persist, complicating regional supply dynamics and affecting OPEC Gulf producers. The UAE remains a critical ally for Washington in the Middle East despite these ongoing security challenges.
686 Articles
686 Articles
The United Arab Emirates is withdrawing from the OPEC oil cartel on May 1. Seven questions and answers about that notable step.
The decision to leave the oil producer club undermines Saudi Arabia's prestige and could strengthen the US position in the regionUnited Arab Emirates announces that it abandons OPEC and OPEC+ The decision of the United Arab Emirates to abandon OPEC is both a political and a business choice, and will rekindle the latent tensions between this country and Saudi Arabia — which had been hidden by its shared anger at Iran over its attacks on the Gulf …
Algemeen Dagblad
The United Arab Emirates announced on Tuesday that it is withdrawing from the Organization of Petroleum Exporting Countries (OPEC). This is a major blow to the oil cartel. What is going on and what are the consequences, both domestically and internationally?
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