By Zainab Lawal, Abuja
The United Arab Emirates has announced plans to withdraw from the Organization of the Petroleum Exporting Countries and the OPEC+ alliance effective May 1, 2026, marking a significant shift in its energy policy.
The decision, disclosed in an official statement on Tuesday, followed what the country described as a comprehensive review of its oil production strategy and future capacity goals.
According to the UAE, the move aligns with its long-term economic objectives, particularly its ambition to expand domestic production and respond more independently to global energy market dynamics.
The statement noted that ongoing disruptions in the Arabian Gulf and the Strait of Hormuz have contributed to short-term supply uncertainties, even as global demand for energy is projected to rise steadily in the coming years.
It emphasized the need for a flexible, reliable, and affordable energy system, adding that the country has made substantial investments to meet evolving demand in a sustainable manner.
The UAE, which has been part of OPEC since 1967, said it has consistently contributed to market stability and cooperation among oil-producing nations.
Describing the exit as a strategic evolution rather than a withdrawal from global responsibility, the country maintained that it would continue to play a stabilizing role in the energy market.
“This decision does not alter the UAE’s commitment to global market stability or its cooperative approach with producers and consumers. Rather, it enhances our ability to respond to changing market needs,” the statement said.
The country also assured that it would continue supplying oil responsibly, gradually increasing production in line with global demand and prevailing conditions.
Highlighting its energy profile, the UAE described itself as a reliable producer of cost-competitive and lower-carbon oil, noting that its resources will remain critical to global economic growth and emission reduction efforts.
“We reaffirm our appreciation for the efforts of both OPEC and the OPEC+ alliance and wish them success. However, the time has come to focus on what our national interest dictates and our commitment to investors, customers, and global markets,” the statement added.
Despite its exit, the UAE pledged continued engagement with global energy stakeholders and sustained investments across the energy value chain, including oil, gas, renewable energy, and low-carbon technologies.
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