The United Arab Emirates announced on Tuesday that it will depart from the Organization of the Petroleum Exporting Countries on May 1, 2026.
In an official statement delivered via the Emirates News Agency, the UAE noted that its “long-term strategic and economic vision” had diverged from OPEC’s. The move comes as global oil benchmark Brent crude rose to over $110 per barrel after markets opened.
Joining OPEC in 1967 as the Emirate of Abu Dhabi, the UAE served as OPEC’s third-largest producer in its nearly 60-year tenure with the group.
“While near-term volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz, continues to affect supply dynamics, underlying trends point to sustained growth in global energy demand over the medium to long term,” UAE officials stated in the press release announcing their departure from OPEC. “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.”
The Abu Dhabi National Oil Company has long sought to increase its production, but disagreements with Saudi Arabia have prevented this expansion.
“We reaffirm our appreciation for the efforts of both OPEC and the OPEC+ alliance and wish them success,” the UAE continued. “During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all.”
This is a breaking news story and will be updated.
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