UAE to exit OPEC, OPEC+ from May 1

The United Arab Emirates (UAE) said Tuesday it will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, with effect from May 1, 2026, the Emirates News Agency reported. The report also said the decision will enhance the country's ability to respond to "evolving market demands" and that it will "gradually and carefully" increase production.

The UAE said it will continue to act as a responsible and reliable energy supplier, bringing additional production to the market in a gradual and measured manner in line with demand and market conditions. It also reaffirmed its commitment to investing across the energy value chain, including oil and gas, renewables and low-carbon solutions, and to working with partners to ensure stable global supply.