UAE Ministry of Energy Explained Why the Country Withdrew from OPEC
The United Arab Emirates (UAE) announced that they are withdrawing from OPEC and OPEC+ based on national interests, taking advantage of a “favourable moment” — the closure of the Strait of Hormuz. The UAE authorities claim that this will allow them to avoid a collapse in oil prices.
The United Arab Emirates (UAE) decided to withdraw from the Organization of the Petroleum Exporting Countries (OPEC) amid the closure of the Strait of Hormuz, said Energy Minister Suhail Al Mazrouei, as reported by CNN.
“The timing is favourable because the decision will not have a significant impact on the market and prices due to the closure of the Strait of Hormuz. <…> Everyone is constrained, including us, but making the decision now will help our friends… not to experience pressure on prices,” he said.
When asked whether the country’s authorities had consulted with Saudi Arabia before withdrawing from OPEC, Al Mazrouei replied that it was a “sovereign national decision”.
“We need to act without restrictions… We want to be sure that we are flexible, responsive, and able to make the right decisions quickly to balance our policy,” he added.
On April 28, the UAE announced that it would withdraw from OPEC and the OPEC+ format on May 1. The authorities explained this by national interests and a revision of production policy.
According to the United States Energy Information Administration, in 2025 OPEC sold oil worth 455 billion United States dollars, of which just under 17% accounted for the UAE (77 billion United States dollars), CNNwrites. At the same time, the UAE’s production quota in OPEC in 2024, according to the Annual Statistical Bulletin, amounted to 13.5%.
Leaving OPEC will allow the UAE to supply more oil to the market without being constrained by the consortium’s limits. At the same time, the fact that OPEC is losing such a major producer may prompt other countries to consider following this example, the CNN report says.
“The ties binding OPEC members have weakened,” said David Oxley, Chief Climate and Commodities Economist at Capital Economics.
Former Prime Minister Sergey Stepashin called the UAE’s withdrawal from OPEC a negative signal.
