UAE Exits OPEC After Nearly 60 Years, Effective 2026

The United Arab Emirates (UAE) has officially announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) after nearly 60 years of membership, with the exit taking effect on May 1, 2026. The UAE's membership in OPEC dates back to 1967.

Suhail Mohammed Al Mazrouei, the UAE's Minister of Energy, indicated that this move is part of a broader strategy aligned with the country's long-term energy policy and market realities. Experts suggest that the UAE has grown frustrated with the production limits imposed by OPEC, which they believe hinder their ability to respond quickly to market opportunities.

As one of OPEC's largest producers, the UAE's exit is viewed as a significant blow to the organization, potentially diminishing its power and coordination in the future. This decision comes amid a major global energy crisis linked to tensions involving Iran that have disrupted oil supply routes, although the short-term impact of the UAE's exit may be limited.