The country explained that this decision is based on its long-term strategy to independently develop and manage its energy sector without relying on cooperation with other nations.
The UAE Minister of Energy, Suhail Al Mazrouei, stated that “The UAE’s decision to leave OPEC reflects policy shifts aligned with long-term market-oriented principles.”
He added that despite leaving OPEC and OPEC+, the UAE will continue to uphold commitments to energy infrastructure security and reducing carbon emissions.
OPEC is made up of 12 member countries, including six from Africa. The organization accounts for about 36% of global oil production, and it is estimated that around 80% of the world’s oil reserves are under its control.
Saudi Arabia is the largest oil producer within OPEC, followed by Iraq. The UAE ranks third, producing about 15% of the group’s total output.
On a daily basis, the UAE produces approximately 2.9 million barrels of oil, with plans to increase its capacity to 5 million barrels per day by 2027.
