UAE to Exit OPEC and OPEC+ in 2026

The United Arab Emirates announced Tuesday that it will withdraw from OPEC and the broader OPEC+ alliance, effective May 1, 2026, in a move that comes amid disruptions to global oil supplies caused by an ongoing conflict involving Iran.

The decision, outlined in an official statement from Abu Dhabi, stems from a review of the UAE's production policies and its expanding energy capacity. UAE Energy Minister Suhail Al Mazrouei said the exit aligns with "sector policy-driven developments" and the country's commitment to serving as a "responsible and reliable producer" in global energy markets. Officials emphasized that the UAE has invested heavily in boosting domestic output, currently around 3.8 million barrels per day with plans to reach 4.1 million or higher, to enhance flexibility in responding to market dynamics while prioritizing stability and affordability.

The announcement occurs against a backdrop of strained oil exports for Gulf producers. The Strait of Hormuz, a vital chokepoint between Iran and Oman through which about one-fifth of the world's crude oil and liquefied natural gas typically flows, has faced threats and attacks linked to the conflict, severely limiting...