The United Arab Emirates (UAE) has announced it will withdraw from OPEC and OPEC+, saying the move is aimed at prioritising its national interests.
The decision comes at a time when the ongoing US-Israel war on Iran has triggered major energy market disruptions and shaken the global economy, according to Al Jazeera.
State media reported on Tuesday that the withdrawal will take effect on Friday and reflects the UAE’s “long-term strategic and economic vision and evolving energy profile.”
“During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all,” the statement said. “However, the time has come to focus our efforts on what our national interest dictates.”
The departure of the UAE, a longstanding OPEC member, is seen as a significant setback for OPEC and OPEC+, potentially undermining the unity of the oil-producing alliance amid existing internal disagreements over geopolitics and production quotas.
UAE Energy Minister Suhail Mohamed Al Mazrouei said the decision followed a careful review of the country’s present and future energy strategies. He added that the UAE did not consult any other country, including Saudi Arabia, before making the announcement.
“This is a policy decision. It has been done after a careful look at current and future policies related to level of production,” he told Reuters.
US President Donald Trump has previously accused OPEC of driving up oil prices and “ripping off the rest of the world.”
He has also linked US military support for Gulf states to oil pricing, arguing that while Washington provides security guarantees, OPEC members take advantage by maintaining high prices.
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