The United Arab Emirates has announced it will withdraw from OPEC and the wider OPEC+ alliance, in a move aimed at prioritising its national interests amid rising global energy tensions.
According to a statement carried by the state news agency WAM, the UAE will formally exit the oil producer groups on Friday, May 1. Officials said the decision reflects the country’s long-term strategic and economic vision, as well as its evolving energy profile.
The UAE, one of the world’s leading oil producers, has previously expressed concerns over OPEC production quotas.
“During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all. However, the time has come to focus our efforts on what our national interest dictates.” the statement said.
Oil flows through the Strait of Hormuz have been disrupted by Iran’s blockade, affecting shipments that normally account for a significant share of global supply.
