United Arab Emirates says it will permanently leave OPEC on May 1
CBS News
Last updated: April 29, 2026
The United Arab Emirates (UAE) has announced its departure from the Organization of the Petroleum Exporting Countries (OPEC), a decision stemming from a comprehensive internal review. This move marks the end of the UAE's more than 50-year membership in the influential oil cartel.
- The UAE's withdrawal from OPEC represents a significant shift in its energy policy and its relationship with the global oil market. This decision follows an in-depth evaluation of the nation's strategies and priorities concerning its oil production and export capabilities. While the specific details driving this "extensive review" remain undisclosed, the exit signifies a reorientation of the UAE's approach to international energy cooperation and its role within the global oil industry. The implications of this departure for OPEC and the broader oil market are yet to be fully understood, but it undoubtedly signals a new chapter for the UAE's energy sector and its engagement with international bodies.
