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UAE to Exit OPEC After Nearly 60 Years

WIRED·Carla Sertin·about 1 month ago
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The United Arab Emirates has announced it will leave OPEC and OPEC+ effective May 1, ending a membership that began in 1967—four years before the UAE was founded as a country. This signals a turning point in the UAE's role in global energy . The government statement, published on state news agency WAM , cited a comprehensive review of the country's production policy and capacity as the basis for the move, calling it a reflection of “the UAE’s long-term strategic and economic vision and evolving energy profile.” The decision, it said, is rooted in national interest and a commitment to meeting what it described as the market's “pressing needs,” a reference to global demand that the UAE believes is being underserved at a time of significant supply disruption.…

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