UAE quits OPEC, video claims

The United Arab Emirates said on Tuesday, April 28, that it will leave OPEC and OPEC+ on May 1. (cnbc.com) (aljazeera.com) The decision ends a membership that began in 1967, when Abu Dhabi joined OPEC before the UAE became a country in 1971. OPEC’s member list still showed the UAE as a current member this week. (opec.org 1) (opec.org 2) UAE Energy Minister Suhail Al Mazrouei said the move followed a review of production policy and future capacity. He told CNBC the UAE wants flexibility as it aims to reach 5 million barrels a day of capacity by 2027. (cnbc.com) (gulfnews.com) OPEC is the producers’ group that sets output targets for member states, and OPEC+ adds allied exporters such as Russia. The UAE’s departure pulls one of the bloc’s biggest producers out of that quota system. (opec.org) (cnbc.com) CNBC reported the UAE was OPEC’s third-largest producer behind Saudi Arabia and Iraq. That gives the exit more weight than the departures of Qatar in 2019 or Angola in 2024. (cnbc.com) (opec.org) The announcement landed as Gulf exporters face shipping pressure around the Strait of Hormuz. Al Jazeera and CNBC both tied the timing to attacks and threats to vessels linked to the Iran conflict. (aljazeera.com) (cnbc.com) Al Mazrouei said the UAE chose a moment that would have “minimum impact” on prices and on its OPEC partners. He also said the decision was not a response to Saudi-led production cuts. (cnbc.com) The UAE said it will keep working with producers and consumers to support market stability after leaving the group. The change is about policy control, not a retreat from oil exports. (gulfnews.com) (cnbc.com) The immediate test comes on May 1, when the UAE is due to leave the bloc and start setting oil policy outside OPEC’s formal structure. (cnbc.com)