The United Arab Emirates announced that it will exit the Organization of the Petroleum Exporting Countries on May 1, 2026.
In a statement delivered to the Emirates News Agency, the UAE explained that the decision “reflects the UAE’s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets.”
The decision further comes in response to the UAE’s review of its “production policy,” as well as its “current and future capacity.” The UAE joined OPEC in 1967 through the Emirate of Abu Dhabi and continued as the UAE in 1971.
“While near-term volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz, continues to affect supply dynamics, underlying trends point to sustained growth in global energy demand over the medium to long term,” the statement added. “A stable global energy system depends on flexible, reliable, and affordable supply. The UAE has invested to meet evolving demand efficiently and responsibly, prioritising stability, affordability, and sustainability.”
Despite leaving OPEC, the UAE said it will continue to invest in the energy sector through “oil, gas, renewables, and low-carbon solutions, to support resilience and long-term energy system transformation.”
President Trump told reporters earlier this month that the U.S. is considering a currency swap with the United Arab Emirates. Speaking on CNBC’s “Squawk Box,” Trump said, “It’s been a good ally of ours. And you know, these are unusual times.”
“They were able to shoot down most of them, but they did get hit hard,” he added. “They were hit the hardest of the group, actually.”
“You know they’re very good for this country,” Trump said of the UAE. “If I could help them, I would. I mean, we’re helping them much more with what we’re doing with the war because, you know, the bully of the Middle East was Iran.”
