The United Arab Emirates (UAE) will leave OPEC and OPEC+, with the decision effective May 1, according to a statement from the country’s Energy Ministry posted on Tuesday. The ministry shared that while the country has been a part of the organization for “decades,” and played an “active role” in supporting the stability of the global oil market, it believes that this was the right time to exit the alliance. “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,” the ministry shared. The decision was made after a “comprehensive review” and is based “on our national interest,” the ministry added. The country’s oil production is expected to be raised “gradually.” In February 2026, the UAE was the third-largest OPEC producer, with Saudi Arabia in first and Iraq in second place.
NN: This hasuae move has NO market impact, Reality because of the straights blockade all Gulf OPEC members are producing under their quotes. Oil demand is 101MBPD. Including attempts of all oil producers to increase production reality is the crude oil market is undersupplied, Production is around 90MBPD. For now higher prices and inventory draw down is barely meeting demand. Global reserve supplies are weeks away from running out. EVEN IF GULF PRODUCTION IS RESTORED