2 weeks ago
1
The United Arab Emirates‘ (UAE) decision to withdraw from Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ was a sovereign and strategical choice based connected a broad appraisal of its accumulation argumentation and aboriginal capabilities, the UAE Energy Minister, Suhail Mohamed Faraj Al Mazrouei, said connected Saturday (May 16, 2026) successful a station connected X.
Mr. Mazrouei added that the determination was not politically motivated and did not bespeak divisions with partners.
The UAE announced precocious April that it was quitting OPEC connected Friday (May 1, 2026), dealing a stroke to the lipid producers’ radical arsenic an unprecedented energy situation caused by the Iran warfare exposes discord among Gulf nations.
“It is not driven by governmental considerations, nor does it bespeak immoderate part betwixt the UAE and its partners”, Mr. Mazrouei added.
The exit of the UAE — 1 of the group’s biggest producers — weakens OPEC’s power implicit global lipid supplies and widens a rift betwixt the UAE and its neighbour Saudi Arabia, efficaciously the person Mr. Haitham Al-Ghais of Kuwait of the OPEC.
