The Withdrawal of the United Arab Emirates from OPEC and OPEC+

The United Arab Emirates (UAE) has announced its decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC)Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ framework, effective 1 May 2026. The UAE has been a member of OPEC since 1967 and is the fourth largest producer within the organization, producing approximately 3.4 million barrels of crude oil per day. The UAE’s departure is regarded as one of the largest producer exits in OPEC’s history.

Historical Background and Structural Framework of OPEC

Founding and Purpose of OPEC

The Organization of the Petroleum Exporting Countries (OPEC) was established on September 1960 at the Baghdad Conference by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The organization’s founding objectives were to coordinate and unify petroleum policies among member countries, ensure fair and stable prices for producer nations, and provide regular supplies to consumer nations. OPEC’s headquarters is located in Vienna, Austria.

During its founding period, global oil markets were dominated by multinational Western oil companies that held decisive control over production and pricing. In this context, the founding countries’ primary goal was to strengthen their sovereignty over natural resources and secure a more influential position in the oil market.

Membership Structure

Following the UAE’s departure, OPEC now has 12 members: Algeria, Republic of the Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia and Venezuela. The organization controls approximately 30 percent of global supply. It is estimated that with the UAE’s exit, this share will decline to around 26 percent.

The OPEC+ Framework

Since 2016, OPEC has partnered with Russia, Azerbaijan, Kazakhstan, Bahrain, Brunei, Malaysia, Mexico, Oman, South Sudan and Sudan to form an expanded alliance known as OPEC+.

Under this framework, OPEC+ countries are estimated to control approximately 40 percent of global oil production. According to data from the International Energy Agency, this share reached approximately 50 percent by 2025.

With the UAE’s withdrawal from both OPEC and OPEC+, it is assessed that the combined production share could decline to approximately 45 percent.

History of the UAE’s OPEC Membership

The UAE joined OPEC in 1967 through the Emirate of Abu Dhabi. Since its establishment as an independent state in 1971, the UAE has maintained uninterrupted membership in the organization.

Over nearly 60 years of membership, the UAE has participated in efforts to maintain supply stability in the global oil market and has risen to become the third largest oil producer within OPEC, after Saudi Arabia and Iraq.

In recent years, the UAE has expanded its production capacity through comprehensive investment programs in the energy sector. However, OPEC-imposed production quotas have limited the country’s daily oil output to approximately 3.2–3.5 million barrels. By contrast, it has been reported that by 2026, the UAE’s total production capacity will reach approximately 4.8–5 million barrels per day.

Decision to Withdraw from OPEC

Official Statement and Legal Basis

The UAE Ministry of Energy and Infrastructure stated on 28 April 2026 that the decision was taken in line with the country’s long-term strategic and economic vision and its changing energy profile. The statement emphasized that the decision was shaped within the framework of the UAE’s national interests and its commitments to investors, customers, partners and global energy markets.

According to the statement, the withdrawal decision followed a comprehensive review of the country’s production policy, particularly aimed at accelerating investments in domestic energy production. The UAE affirmed that the decision does not alter its commitment to global market stability but rather enhances its ability to respond more swiftly to evolving market needs.

Effective Date and Scope

According to the UAE State News Agency WAM, the UAE’s withdrawal from both OPEC and OPEC+ will take effect on 1 May 2026. This marks the end of approximately 60 years of UAE membership in OPEC.

Impact on Oil Prices

On 28 April 2026, the day the UAE announced its decision to withdraw from OPEC, the price of West Texas Intermediate (WTI), the benchmark crude oil indicator for the United States, rose to approximately $99.5 per barrel, while the global reference Brent crude oil price reached approximately $111 per barrel.

By 29 April 2026, WTI prices had increased to approximately $102 per barrel and Brent crude prices reached approximately $113 per barrel. These price increases are reported to be linked to supply uncertainty arising from a lack of progress in negotiations with Iran and disruptions in shipments through the Strait of Hormuz.