The United Arab Emirates (UAE) said on Tuesday it was quitting OPEC and OPEC+ oil cartels effective May 1, 2026.
“This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets,” its state-run WAM news agency said.
It added that the decision “follows a comprehensive review of the UAE’s production policy and its current and future capacity and is based on [the country’s] national interest and commitment to contributing effectively to meeting the market’s pressing needs.”
“The decision reflects a policy-driven evolution in the UAE’s approach, enhancing flexibility to respond to market dynamics while continuing to contribute to stability in a measured and responsible manner,” it also said, adding that following its withdrawal from the group, “the UAE will continue to act responsibly, bringing additional production to market in a gradual and measured manner, aligned with demand and market conditions.”
The UAE added that it’s decision did not alter it’s commitment to the stability of global oil markets but was a “sovereign national decision based on our strategic and economic vision.”