A truck passes through ADNOC Gas subsidiary of Abu Dhabi National Oil Company in Abu Dhabi on March 3, 2026.
Ryan Lim | AFP | Getty Images
The decision of the United Arab Emirates to leave OPEC and OPEC+ is based on the country’s economic vision and not politics, said the country’s energy minister on Saturday.
“This decision came after a comprehensive assessment of the national production policy and its future potential, and is based solely on the national interests of the United Arab Emirates, its responsibility to be a reliable energy supplier, and its unwavering commitment to maintaining market stability,” said Suhail Mohamed Al Mazrouei in a post on X.
The Emirates announced earlier this month that it would leave the OPEC producer group, of which it has been a member since 1967, before the UAE was established.
“This decision is not based on any political considerations, and it does not indicate that there is a rift between the United Arab Emirates and its partners,” said Mazrouei.
United Arab Emirates Energy Minister Suhail Mohamed Al Mazrouei arrives at the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and Non-OPEC Ministerial Meeting in Vienna, Austria, on October 5, 2022.
Vladimir Simicek | Afp | Getty Images
The exit “represents a strong and important choice from its long-term economic vision, the development of its capabilities in the energy sector, and its strong commitment to global energy security,” the oil minister said.
Before the war, the UAE was producing just over 3 million barrels per day – broadly in line with OPEC+ targets. Abu Dhabi is targeting a production capacity of 4.9 million BPD. Now, because of the war, the UAE is producing between 1.8 and 2.1 million barrels per day.
The UAE was the most influential member of OPEC after Saudi Arabia. It was one of the few members, along with Saudi Arabia, that had the remaining production capacity to influence prices and respond to supply shocks, Jorge León, head of geopolitical analysis at Rystad Energy, told CNBC after the UAE announced its decision.
Backup power is idle generation that can be brought online quickly to deal with major problems. Saudi Arabia and the UAE together control the majority of the world’s reserve power of more than 4 million barrels per day, making them particularly influential in times of stress.
Oil prices rose on Friday on speculation that President Donald Trump may turn his attention back to the escalating conflict with Iran after leaving a summit in China with President Xi Jinping.
International Brent crude futures for July gained more than 3% to close at $109.26 a barrel. US West Texas Intermediate futures for June advanced more than 4% to settle at $105.42 per barrel.
Brent crude prices are up 74 percent year-to-date, but below the peak of $118 a barrel reached in late April.
Brent crude oil price (US dollars per barrel), year to date.
Also on Friday, Abu Dhabi said it is speeding up the construction of a new West-East pipeline to Fujairah as it looks to increase its oil export capacity and bypass the Strait of Hormuz chokepoint.
The project, which is expected to be online by 2027, will double the export capacity of Abu Dhabi National Oil Company (ADNOC).
The second pipeline project comes as global energy remains under pressure, flows through the Strait of Hormuz are severely limited, and repeated attacks on energy infrastructure and shipping have reduced the UAE’s ability to restore normal output.
