The UAE is withdrawing from OPEC and OPEC+ amid the energy crisis
The United Arab Emirates’ Minister of Energy, Suhail Mohammed al-Mazrouei, stated that the decision was taken following a thorough analysis of current and future production policies. According to him, this is an internal political decision and it was not discussed with other countries, in particular with Saudi Arabia. This was reported by ThePublic, citing Reuters.
The UAE’s withdrawal comes against the backdrop of a difficult situation regarding energy supplies through the Strait of Hormuz, which is a key route for the transport of oil and liquefied natural gas. Supplies from the Gulf states have been hampered by threats and attacks from Iran.
The minister noted that the decision is unlikely to have a significant impact on the market given the current situation in the region.
At the same time, the UAE’s withdrawal is seen as a blow to OPEC and its informal leader, Saudi Arabia. The organisation has traditionally sought to maintain unity despite differences among member states.
This decision also coincided with criticism from US President Donald Trump, who had previously accused OPEC of inflating oil prices and claimed that the organisation’s member states benefit from US military support.
The UAE’s move came after the country expressed dissatisfaction with the reaction of other regional states to attacks by Iran during the war. Anwar Gargash, the UAE President’s adviser on diplomatic affairs, stated that the Gulf Cooperation Council countries had supported one another only logistically, but their political and military stance had been weak.
He also noted that he had expected a similar stance from the Arab League, but was surprised by the reaction of the GCC countries.
The withdrawal of the United Arab Emirates, which has long been a member of OPEC, could weaken the organisation against the backdrop of the energy crisis and instability in global markets.
