The United Arab Emirates has announced it will exit OPEC on May 1, citing national interest following weeks of Iranian missile and drone attacks that severely disrupted its oil exports.
The United Arab Emirates has delivered a stunning blow to OPEC, announcing its departure from the cartel effective May 1 — ending a membership that stretches back nearly six decades to 1967.
The exit follows weeks of relentless missile and drone attacks on the UAE by fellow OPEC member Iran, whose strikes on Strait of Hormuz shipping have severely constrained the Gulf state’s ability to export oil, threatening the backbone of its economy.
The UAE was OPEC’s third-largest producer behind Saudi Arabia and Iraq, making its departure a significant loss for the cartel’s influence and coordination.
While the energy ministry stopped short of explicitly naming Iran as the trigger, the timing leaves little ambiguity. The ministry stated the decision followed a comprehensive review of production policy and national interest.”
“We reaffirm our appreciation for the efforts of both OPEC and the OPEC+ alliance and wish them success,” the energy ministry said.
The UAE’s exit gives it greater flexibility to respond independently to market dynamics — a freedom clearly now deemed more valuable than cartel membership.