The United Arab Emirates is preparing to withdraw from OPEC and OPEC+ memberships on 1 May amid the ongoing Middle East conflict, which is severely affecting the oil market.
On 28 Apr 2026, the UAE government's news agency WAM reported that the UAE will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ group, which includes Russia, on 1 May 2026.
The statement said, "This decision aligns with the UAE's long-term strategic and economic vision, including the development of the energy sector, accelerating investment in domestic energy production."
This move represents a major shake-up for OPEC and its leading member Saudi Arabia. Currently, OPEC accounts for 36% of global oil production and controls nearly 80% of proven oil reserves worldwide.
The UAE's decision is primarily driven by its desire to increase oil production to generate revenue, which conflicts with OPEC's production cut policies, despite the UAE's long-standing efforts to secure higher production quotas.
The UAE also wants to pursue its own energy policies independent of Saudi Arabia and the group's decisions, while the Middle East conflict and export challenges through the Strait of Hormuz have accelerated the UAE's decision.
"The UAE’s decision to leave OPEC reflects a policy evolution consistent with long-term market fundamentals. We remain committed to energy security by providing reliable, responsible, and low-carbon energy sources while supporting global market stability," said Suhail Al Mazrouei, UAE Minister of Energy, in a post on X.
OPEC was founded in 1960 with founding members including Saudi Arabia, Iran, Iraq, Venezuela, and Kuwait. The UAE joined as a member seven years later.
The UAE ranks among the top 10 largest oil producers globally, accounting for approximately 3% to 4% of world oil production.
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Source:cnn