Dubai, Apr 28: The United Arab Emirates (UAE) on Tuesday announced its decision to withdraw from the Organisation of the Petroleum Exporting Countries (OPEC) and OPEC+, a move that could significantly impact global oil markets and regional energy politics.
The UAE said its withdrawal will take effect from May 1, 2026.
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The decision is being seen as a major setback for the Saudi Arabia-led oil alliances, which have played a key role in managing global crude oil production and influencing prices for years.
The announcement comes at a time of heightened geopolitical tensions in the Gulf region, with the Iran conflict already causing uncertainty in international energy markets.
Oil producers in the Gulf are also facing growing concerns over the Strait of Hormuz, a key shipping route between Iran and Oman through which nearly one-fifth of the world’s crude oil and liquefied natural gas normally passes.
Reports said the UAE had recently expressed frustration over regional security issues and the response of some neighbouring countries to repeated threats during the conflict.
The UAE, one of the Gulf’s largest business and financial hubs, has long been an important member of OPEC and a major oil producer in the region.
Founded in 1960, OPEC remains one of the most influential organisations in the global energy sector, with member countries accounting for more than one-third of the world’s oil production.
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Analysts say the UAE’s exit could have far-reaching consequences for future production agreements, oil prices, and the balance of power within global energy markets.
