UAE to Withdraw from OPEC in 2026

The United Arab Emirates has declared that it will leave the Organization of the Petroleum Exporting Countries on May 1, 2026. This decision was revealed in an official statement by the UAE news agency, which noted that the country’s “long-term strategic and economic vision” no longer aligns with OPEC’s goals. Interestingly, this announcement came just as the price of Brent crude—a key global oil benchmark—surpassed $110 per barrel as the market opened.

The UAE became a member of OPEC back in 1967, representing the Emirate of Abu Dhabi, and has been one of the group’s significant contributors for nearly 60 years.

According to UAE officials, while fluctuations in oil supply, such as disruptions in the Arabian Gulf and the Strait of Hormuz, may present challenges, the overall trends signify a consistent growth in global energy demand over the medium to long term. They added that this decision marks a transition in the UAE’s policy, aimed at enhancing its ability to adapt to market changes while still promoting stability in a careful and responsible way.

The Abu Dhabi National Oil Company has long aimed to ramp up oil production, but internal disagreements with Saudi Arabia regarding oil policies have hindered this expansion.

The UAE expressed appreciation to both OPEC and the OPEC+ alliance for their ongoing efforts, stating, “During our time with the organization, we have made tremendous contributions and even greater sacrifices for the benefit of all.”

This news is still developing and will be updated as more information becomes available.