UAE Announces Exit from OPEC, OPEC+ Amid Rising Regional Tensions

The United Arab Emirates has announced plans to withdraw from the Organisation of the Petroleum Exporting Countries and its allied grouping, OPEC+, in a move that could reshape global oil dynamics at a time of heightened geopolitical tension in the Middle East.

The decision, disclosed in a statement carried by the state-run WAM news agency on Tuesday, is expected to take effect on Friday. The UAE said the move is driven by a renewed focus on its national economic priorities and long-term energy strategy.

“This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile,” the statement said. “During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all. However, the time has come to focus our efforts on what our national interest dictates.”

The announcement comes as global oil markets remain volatile, with prices under pressure from ongoing conflict in the Middle East. Gulf oil shipments have been severely disrupted by tensions involving Iran, particularly around the Strait of Hormuz – a critical chokepoint that typically handles about one-fifth of global oil supply.

The UAE, one of the world’s leading oil producers, has in recent years expressed reservations about OPEC production quotas, arguing for greater flexibility to align output with its expanding capacity and economic ambitions.