Major Gulf State Ditches OPEC as Iran Chaos Triggers Nationalistic Response
So… that just happened. Wow!
This article originally appeared on the Daily Caller News Foundation and was republished with permission.
Guest post by Leena Nasir
The United Arab Emirates announced on Tuesday that it will depart from the Organization of the Petroleum Exporting Countries on May 1, 2026.
In an official statement delivered via the Emirates News Agency, the UAE noted that its “long-term strategic and economic vision” had diverged from OPEC’s. The move comes as global oil benchmark Brent crude rose to over $110 per barrel after markets opened.
Joining OPEC in 1967 as the Emirate of Abu Dhabi, the UAE served as OPEC’s third-largest producer in its nearly 60-year tenure with the group.
“While near-term volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz, continues to affect supply dynamics, underlying trends point to sustained growth in global energy demand over the medium to long term,” UAE officials stated in the press release announcing their departure from OPEC. “The decision reflects a policy-driven evolution in the UAE’s approach, enhancing flexibility to respond to market dynamics while continuing to contribute to stability in a measured and responsible manner.”
UAE’s full statement:
Abu Dhabi, April 28 / WAM / The United Arab Emirates announced today its decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, effective May 1, 2026.
This decision is in line with the UAE’s long-term strategic and economic vision and the development of its energy sector, including accelerating investment in domestic energy production, and reinforces its commitment to its role as a responsible and reliable producer that looks to the future of global energy markets.
This decision came after a thorough review of the UAE’s production policy and its current and future capacity, and in view of what the national interest requires and the state’s commitment to contribute effectively to meeting the urgent needs of the market, while geopolitical fluctuations continue in the near term through the disturbances in the Arabian Gulf and the Strait of Hormuz, which affect supply dynamics, as the basic trends indicate continued growth in global energy demand in the medium and long term.
The stability of the global energy system depends on the availability of flexible, reliable and affordable supplies, and the UAE has invested to meet the changing demands efficiently and responsibly, prioritizing supply stability, cost, and sustainability.
This decision comes after decades of constructive cooperation, as the UAE joined OPEC in 1967 through the Emirate of Abu Dhabi, and its membership continued after the establishment of the United Arab Emirates in 1971. During this period, the country played an active role in supporting the stability of the global oil market and promoting dialogue between producing countries.
The decision affirms the evolution of sector policies to enhance flexibility in responding to market dynamics, while continuing to contribute to market stability in a thoughtful and responsible manner.
The UAE is a reliable, cost-competitive, and low-carbon-intensity oil producer globally, contributing to global growth and emissions reduction.
After leaving OPEC, the UAE will continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions.
With a large and competitive resource base, the UAE will continue to work with partners to develop resources, supporting economic growth and diversification.
It is worth noting that this decision does not change the UAE’s commitment to the stability of global markets or its approach based on cooperation with producers and consumers, but rather enhances its ability to respond to changing market demands.
The UAE affirms its appreciation for the efforts of both OPEC and the OPEC+ alliance, as the country’s presence in the organization has made significant contributions and even greater sacrifices for the benefit of all. However, it is now time to focus efforts on what the UAE’s national interest requires, its commitment to its investment and importing partners, and the needs of the market, and this is what it will focus on in the future.
The UAE also affirms its continued commitment to responsible production policies and a focus on market stability, taking into account global supply and demand.
The state will continue to invest across the energy sector value chain, including oil and gas, renewable energy and low-carbon solutions, to support resilience and long-term transformation of the energy system.
The UAE values more than five decades of cooperation with partners, while continuing its active
The Abu Dhabi National Oil Company has long sought to increase its production, but disagreements with Saudi Arabia prevented this expansion.
“We reaffirm our appreciation for the efforts of both OPEC and the OPEC+ alliance and wish them success,” the UAE continued. “During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all.”
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