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UAE to Leave OPEC on May 1, 2026
The United Arab Emirates announced its withdrawal from OPEC and OPEC+ on April 28, 2026, citing national production goals amid global supply disruptions. The move, effective May 1, follows tensions with quotas and regional rivalries. It could increase oil output, affecting markets and climate goals.
AJ
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The United Arab Emirates announced its withdrawal from OPEC and OPEC+ effective May 1, 2026, ending a 59-year membership that began in 1967, four years before the country was founded in 1971. The announcement came on April 28, 2026, with UAE Energy Minister Suhail Al Mazrouei stating the decision reflects the country's long-term strategic and economic vision, including accelerated investment in domestic energy production.
The UAE, OPEC’s third-largest oil producer accounting for roughly 12 percent of the group’s total output, has pushed back against OPEC production quotas in recent years, which it viewed as too low.
The country has invested heavily in expanding energy production capacity in recent years, according to Capital Economics. Analysts say the UAE has capacity to produce roughly 5 million barrels of crude oil a day. 4 million barrels of crude oil a day just before the US-Israeli war on Iran began on 28 February.
9 million barrels per day in March, as the UAE faced missile and drone attacks by Iran, a fellow OPEC member. Iran has conducted direct attacks on Emirati territory and shipping. Iran has effectively closed the Strait of Hormuz shipping route, which carries around a fifth of the world’s oil and gas exports.
OPEC controls around 40 per cent of the world’s crude oil production. The UAE stated it will bring additional production to market in a gradual and measured manner, aligned with demand and market conditions.
43 tonnes of CO2 emissions. 6 million barrels of crude oil production per day by the UAE would release 250 million tonnes of CO2 annually. 250 million tonnes of CO2 annually is greater than the annual emissions of Spain.
The UAE hosted the United Nations COP28 climate talks in 2023. Nearly 200 countries pledged to move away from fossil fuels at COP28.
Sultan Al Jaber served as COP28 president. Sultan Al Jaber is CEO of the national oil company. Masdar is the UAE's state-owned renewable energy company. Masdar has investments in more than 40 countries around the world.
