NewsGate Press Network

The United Arab Emirates (UAE) has decided to quit the all-powerful Organisation of Petroleum Exporting Countries (OPEC).

The decision to leave OPEC by UAE was announced on Tuesday the 28th of April 2026 ending its 60 years old partnership.

West Asian media outlets are stating that UAE’s State-run WAM news agency announced the decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile.

‘This decision reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets,’ the UAE said.

The exit allows UAE more freedom to explore oil trades in local currencies instead of US dollar.

Before its announcement to leave OPEC and OPEC (Plus), the UAE was one of OPEC’s most influential members and the third-largest producer of oil, trailing only Saudi Arabia and Iraq.

Its exit deprives OPEC of a critical tool for stabilising the global oil market, potentially leading to more unpredictable price swings.

With the UAE’s exit, OPEC loses roughly 15 per cent of its total production capacity.

By leaving, the UAE will no longer be bound by strict output quotas. It has announced plans to ramp up its production capacity from roughly 4 million to 5 million barrels per day (bpd) by 2027 to “meet pressing market needs”.

OPEC, the apex inter-governmental body for global oil industry, consists of 12 member countries which coordinate petroleum policies to stabilise oil markets and hold approximately 80 per cent of the world’s proven crude oil reserves.

OPEC (plus) is an extension of OPEC and consists of 22 oil-exporting countries which meet regularly to decide how much crude oil to sell on the world market. It comprises 12 OPEC countries plus Azerbaijan, Bahrain, Brunei, Kazakhstan, Russia, Mexico, Malaysia, South Sudan, Sudan, and Oman.

Founded in 1960, the primary objective of OPEC and OPEC is to coordinate and unify the petroleum policies of its member nations to ensure stable prices and a steady income for producers.

Analysts warn that the exit could trigger internal disarray or even a “domino effect” of other members leaving, permanently fracturing the group’s ability to coordinate global supply.

Oil prices have already crossed 100 USD a barrel because the of the closure of Strait of Hormuz, a vital chokepoint for 20 per cent of global oil.