ABU DHABI: Arab media reports have claimed that the United Arab Emirates (UAE) has officially declared its decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, effective May 1, 2026.
According to the reports, UAE officials have conveyed that the country will no longer remain part of OPEC and OPEC+ arrangements after the specified date.
The oil-producing bloc includes key member states such as Saudi Arabia, Iran, Iraq, and Kuwait, while Russia and several other non-OPEC countries also participate in the broader OPEC+ framework, Arab media added.
According to news agency reports, authorities have stated that the United Arab Emirates (UAE) is seeking greater autonomy in its oil sales policy, aiming to pursue a more independent approach in the global energy market.
The report suggests that the move is intended to allow the UAE to exercise greater control over its crude oil marketing and pricing strategies.
The Organization of the Petroleum Exporting Countries was established in 1960, with major member states including Saudi Arabia, Iran, Iraq, and Kuwait.
The OPEC+ was formed in 2016 through an alliance between OPEC members and non-OPEC producers, including Russia and several other countries.
OPEC and OPEC+ play a key role in regulating global oil production and influencing prices, collectively accounting for an estimated 40 to 50 percent of global crude oil output, according to industry assessments.
