The United Arab Emirates will withdraw from OPEC and the OPEC+ alliance effective May 1. This decision ends a nearly 60-year membership amid rising tensions with Saudi Arabia over production quotas.
The UAE energy ministry cited a long-term strategic vision and a desire for production flexibility as primary drivers. Brent crude futures climbed toward $112 a barrel following the announcement.
Ongoing conflict-related disruptions in the Strait of Hormuz currently hamper immediate production increases. Analysts suggest the withdrawal structurally weakens OPEC’s market influence. Saudi Arabia now faces increased responsibility for maintaining global price stability.