New Delhi, April 28: The United Arab Emirates (UAE) has announced its exit from OPEC and OPEC+, marking a significant shift in global oil politics and a setback for the Saudi Arabia-led oil alliance.
The UAE said the decision reflects its long-term strategic and economic vision and its evolving energy profile. Energy Minister Suhail Al Mazrouei stated that leaving the group will give the country greater flexibility in managing oil production and responding to global market conditions. He added that the move aligns with sector policy developments and long-term market fundamentals. The UAE also thanked OPEC for decades of cooperation and reaffirmed its commitment to energy security through reliable and responsible supply.
The exit is expected to weaken OPEC at a time when global energy markets are already under pressure due to geopolitical tensions and disruptions in supply routes, including instability in the Strait of Hormuz. The UAE accounts for around 15% of OPEC’s oil exports and produces about 2.9 million barrels per day, making it one of the group’s key producers after Saudi Arabia.
Analysts say the decision could also carry political implications, with some viewing it as a boost for US President Donald Trump, who has frequently criticized OPEC for keeping oil prices high.
OPEC was founded in 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela to coordinate oil production and stabilize prices. Its membership has since expanded and changed over time, with several countries joining and others leaving, including Qatar, Angola, Ecuador, and Indonesia. Following the UAE’s exit, OPEC will continue with 11 members, while OPEC+ includes additional producers such as Russia.
The UAE’s departure marks a major restructuring of global oil cooperation and may reduce the cartel’s influence over production and pricing decisions. (IANS)
