United Arab Emirates leave OPEC effective May 1

The United Arab Emirates announced Tuesday that it will leave the Organisation of the Petroleum Exporting Countries (OPEC and its wider OPEC+ group) effective May 1.

1news.media informs, citing WAM news agency, it was stated that this decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets.

The UAE had been a longtime member of OPEC, first through its emirate of Abu Dhabi in 1967 and later when the UAE became its own country in 1971.