UAE Says OPEC, OPEC+ Exit Was Sovereign Strategic Decision, Not ...
The energy minister said the move reflects a comprehensive assessment of production policy and future capabilities, not political divisions, as the UAE seeks market stability.
- On Saturday, United Arab Emirates Energy Minister Suhail Mohamed Faraj Al Mazrouei reaffirmed that the nation's departure from OPEC represents a "sovereign and strategic choice" based on long-term economic vision, not political considerations.
- The UAE announced its departure from OPEC on May 1, 2026, ending a membership held since 1967, before the country was even founded. The exit comes amid an unprecedented energy crisis caused by the Iran war that exposes discord among Gulf nations.
- As one of the few OPEC members with meaningful spare production capacity, the UAE's exit weakens the organization's control over global supplies. Saudi Arabia and the UAE together control a majority of the world's spare capacity of more than 4 million barrels per day.
- Abu Dhabi is accelerating construction of a new West-East pipeline to Fujairah to expand oil export capacity and bypass the Strait of Hormuz chokepoint as global energy supplies remain under pressure. The project is expected to come online in 2027.
- Oil markets reacted Friday as Brent crude futures gained more than 3% to close at $109.26 a barrel, amid speculation that the UAE's exit and stalemated conflict with Iran will reshape global energy dynamics. Brent prices are 74 percent up year-to-date.
15 Articles
15 Articles
UAE says only economics, not politics, affected decision to leave OPEC
The United Arab Emirates says it did not take politics into consideration when it decided to leave OPEC and OPEC+ at the start of May. Suhail Mohamed Al Mazrouei, who serves the UAE as its energy minister, on Saturday insisted the country’s decision was “rooted in its long-term economic vision, evolving energy capabilities, and enduring commitment to global energy security.” The Gulf state announced last month that it was ending its 59-year memb…
The government of the United Arab Emirates reiterated this Saturday that its departure from the Organization of Petroleum Exporting Countries (OPEC) and the OPEC+ alliance, effective since May 1, does not respond to divisions with its partners, but to a sovereign and strategic decision. “This decision is not based on political considerations nor reflects the existence of divisions between the United Arab Emirates and its partners,” said the Mini…
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