UAE To Leave OPEC, OPEC+

The United Arab Emirates today announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+), effective May 1, 2026. The decision follows a comprehensive review of the UAE’s production policy and its current and future capacity. It also reflects the country’s long-term strategic and economic vision, including accelerated investment in domestic energy production. The UAE said the move is based on its national interest and its commitment to contributing effectively to the market’s pressing needs. New energy age The decision comes at a time when near-term volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz, continues to affect supply dynamics. The UAE said underlying trends still point to sustained growth in global energy demand over the medium to long term. The UAE said the move is based on its national interest and its commitment to contributing effectively to the market’s pressing needs. New energy age The decision comes at a time when near-term volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz, continues to affect supply dynamics. The UAE said underlying trends still point to sustained growth in global energy demand over the medium to long term. A stable […]