economy

April 29, 2026

FACTBOX: What is known about UAE's decision to quit OPEC, OPEC+

According to the Emirates state news agency, the UAE's decision to exit OPEC and OPEC+ "reflects the UAE’s long-term strategic and economic vision and evolving energy profile"

FACTBOX: What is known about UAE's decision to quit OPEC, OPEC+

TL;DR

  • UAE announced withdrawal from OPEC and OPEC+ effective May 1, 2026.
  • Decision reflects UAE's long-term strategic and economic vision and evolving energy profile.
  • UAE will continue to act responsibly, bringing additional production to market aligned with demand.
  • The country will keep investing across the energy value chain, including oil, gas, renewables, and low-carbon solutions.
  • UAE will focus on national interests and commitment to investors, customers, partners, and global energy markets.
  • The decision does not alter UAE's commitment to global market stability or cooperation.
  • The UAE's decision will be discussed at the next OPEC+ meeting in June.

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