United Arab Emirates announces its withdrawal from OPEC due to the crisis in the Strait of Hormuz

Dubai.- United Arab Emirates (UAE) announced this Tuesday its withdrawal from the Organization of Petroleum Exporting Countries (OPEC) and the alliance OPEC+ due to the "disturbances in the Persian Gulf and the Strait of Hormuz" starting May 1, 2026, reported the Emirati official news agency WAM.

The agency indicated that this decision is driven "by national interests and the country's commitment to actively contribute to meeting the urgent needs of the market, especially given the current short-term geopolitical volatility derived from the disruptions in the Persian Gulf and the Strait of Hormuz, which affect the supply dynamics." Furthermore, it was pointed out that "the fundamental trends indicate a continuous growth in global energy demand in the medium and long term", and it was argued that "the stability of the global energy system depends on the availability of flexible, reliable and affordable supplies". The withdrawal of the Emirates comes at a time when OPEC production fell in March by almost 8 million barrels per day (mbd), 27.5% less than what was pumped in February, due to the war in Iran and the blockade of the Strait of Hormuz, which mainly affected Iraq and the countries of the Persian Gulf.

The country's Minister of Energy and Infrastructure, Suhail bin Mohamed Al Mazrouei, defended that OPEC's withdrawal "reflects a political evolution aligned with long-term market fundamentals".

The Emirates joined OPEC in 1967 through the Emirate of Abu Dhabi and maintained its membership after the country's creation in 1971, and "throughout this period, the country has played an active role in supporting the stability of the global oil market and in promoting dialogue between producing countries," added WAM.

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He highlighted that the UAE "is a reliable producer of some of the most competitively priced and lowest carbon intensity oils in the world, contributing to global growth and emission reduction." However, he defended that, "after its exit from OPEC, the UAE will continue to play its responsible role by gradually and prudently increasing production", and will continue to "collaborate with its partners to develop resources". He highlighted that "this decision does not alter the UAE's commitment to global market stability nor its approach based on cooperation with producers and consumers," he justified. Emirates also expressed "its gratitude" for the efforts of both OPEC and the OPEC+ alliance, led by Saudi Arabia and Russia, but stressed that "the time has come to focus efforts on the national interests of the UAE".

"UAE will continue investing across the entire energy value chain, including oil and gas, renewable energies, and low-carbon solutions, to strengthen the resilience and long-term transformation of its energy system," he concluded.

The Emirates' decision comes at a time of tension with its Arab neighbors in the Persian Gulf, whom it has accused of not coordinating positions against Iran's attacks on the energy infrastructure of this oil-rich region. Likewise, it occurs in the face of criticism from US President Donald Trump of OPEC, an organization that he has accused of inflating oil prices.