Abu Dhabi, April 28 (WAM) — In a notable move that could reshape the balance of global oil markets, the United Arab Emirates has announced its decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance, in a development that surprised markets and energy observers alike. According to the Emirates News Agency (WAM), the decision comes as part of new strategic directions in the country’s energy policy.
The United Arab Emirates confirmed that the withdrawal from OPEC and OPEC+ will take effect from May 1, 2026.
The statement explained that the decision aligns with the UAE’s long-term strategic and economic vision and the ongoing evolution of its energy sector, including accelerating investments in domestic energy production. It also reinforces the country’s commitment to its role as a responsible and reliable producer with a forward-looking approach to global energy markets.
The move follows a comprehensive review of the UAE’s production policy and its current and future capacity, in light of national interests and the country’s commitment to effectively contribute to meeting urgent market needs. This comes amid continued geopolitical volatility in the near term, particularly due to disruptions in the Arabian Gulf and the Strait of Hormuz, which impact supply dynamics, while underlying trends point to continued growth in global energy demand over the medium and long term.
The stability of the global energy system depends on the availability of flexible, reliable, and affordable supplies. The UAE has invested to respond efficiently and responsibly to changing demand, prioritizing supply stability, cost competitiveness, and sustainability.
This decision follows decades of constructive cooperation, as the UAE joined OPEC in 1967 through the Emirate of Abu Dhabi and continued its membership after the formation of the United Arab Emirates in 1971. During this period, the country played an active role in supporting the stability of global oil markets and promoting dialogue among producing nations.
The decision reflects the evolution of the UAE’s energy policies, enhancing its flexibility in responding to market dynamics while continuing to contribute to market stability in a measured and responsible manner.
The UAE is recognized as one of the world’s most cost-competitive and lowest-carbon-intensity oil producers, contributing to global growth while supporting emissions reduction.
Following its exit from OPEC, the UAE will continue its responsible role by gradually and carefully increasing production in line with demand and market conditions.
With a strong and competitive resource base, the UAE will continue working with partners to develop its resources, supporting economic growth and diversification.
The UAE emphasized that this decision does not alter its commitment to global market stability or its cooperative approach with both producers and consumers, but rather enhances its ability to respond to evolving market requirements.
The country also expressed its appreciation for the efforts of both OPEC and the OPEC+ alliance, noting that its membership involved significant contributions and sacrifices for the benefit of all. However, it stated that the time has come to focus on national priorities, commitments to investors and import partners, and market needs.
The UAE reaffirmed that its production policies will continue to be guided by responsibility and a focus on market stability, taking into account global supply and demand.
The country will also continue investing across the energy value chain, including oil, gas, renewable energy, and low-carbon solutions, to support resilience and long-term transformation of the global energy system.
Finally, the UAE highlighted more than five decades of cooperation with partners, reaffirming its continued active role in supporting the stability of global energy markets.
