UAE Announces Decision To Withdraw From Opec, Opec+ From May 1

The UAE on April 28 announced its decision to exit the Organisation of the Petroleum Exporting Countries (Opec and Opec+), effective May 1, 2026.

The decision, which comes after six decades of being a part of the organisation, was made after the nation's production policy and its capacity was reviewed.

The UAE is a trusted producer of some of the world's most cost-competitive and lower-carbon barrels, which will play an important role in supporting global growth and emissions reduction.

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In its announcement, the UAE said that while near-term volatility - including disruptions in the Arabian Gulf and the Strait of Hormuz - affect the supply dynamics, underlying trends point to sustained growth in global energy demand in the long term.

The nation said that it has invested to meet evolving demand efficiently and responsibly, prioritising stability, affordability, and sustainability - the pillars upon which a global energy system depends.

The UAE joined Opec in 1967 through Abu Dhabi and continued its membership after the formation of the United Arab Emirates in 1971.

Throughout this period, it has played an active role in supporting global oil market stability and strengthening dialogue among producing nations.

The decision to leave, however, reflects a policy-driven change in the nation's approach, increasing flexibility to respond to market dynamics while continuing to contribute to stability in a measured and responsible manner.

It also reflects the UAE's long-term strategic and economic vision and changing energy profile, including higher investment in domestic energy production.

The UAE has committed to global market stability in the past and will continue to do so, while enhancing its ability to respond to evolving market needs.

While the nation emphasised its appreciation for both Opec and the Opec+ alliance, it said that it "made significant contributions and even greater sacrifices for the benefit of all".

It added that the time has come to focus efforts on what national interest dictates and "our commitment to our investors, customers, partners and global energy markets."

"This is what we will focus on going forward."

Following its exit, the UAE stated it will continue to act responsibly, bringing additional production to market in a gradual and measured manner, aligned with demand and market conditions.

The nation will continue working with partners to develop resources, supporting economic growth and diversification.

It will also continue working with partners to develop resources supporting promoting economic growth and diversification - and to support stable global energy markets.

Production policies will be guided by responsibility and market stability, taking into account global supply and demand, it added.

The UAE will also continue investing across the energy chain, including oil, gas, renewables, and low-carbon solutions.

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