UAE to Exit Oil Cartel OPEC, OPEC+ from May 1
The United Arab Emirates (UAE) said Tuesday it will withdraw from the Organisation of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, with effect from May 1, 2026.
The decision reflects the UAE’s long-term strategic and economic vision of evolving energy profile, including accelerated investment in domestic energy production, said a Dubai local media report.
It follows a comprehensive review of the UAE’s production policy and its current and future capacity, the report said.
This would be based on the UAE’s national interest and commitment to contributing effectively to meeting the market’s pressing needs,” the report added.
The UAE would continue to act as a responsible and reliable energy supplier, bringing additional production to the market in a gradual and measured manner in line with demand and market conditions.
The Emirates also reaffirmed its commitment to investing across the energy value chain, including oil and gas, renewables and low-carbon solutions, and to working with partners to ensure a stable global supply. Nairobi Index Dips on Longhorn, Kenya Airways Shares Selloffs
