UAE says its decision to leave OPEC was a strategic economic move, not a political one

A truck drives past an ADNOC Gas a subsidiary of the Abu Dhabi National Oil Company facility in Abu Dhabi on March 3, 2026. Ryan Lim | AFP | The United Arab Emirates' decision to leave OPEC and OPEC+ was based on the country's economic vision and not on politics, the country's energy minister said on Saturday. "This decision came following a comprehensive assessment of the national production policy and its future capabilities, and it is based solely on the national interest of the United Arab Emirates, its responsibility as a reliable energy supplier, and its unwavering commitment to maintaining market stability," Suhail Mohamed Al Mazrouei said in a post on X. The Emirates announced earlier this month it would depart the producer group OPEC, of which it was a member since 1967, before the UAE was even founded. "This decision is not based on any political considerations, nor does it reflect the existence of any divisions between the United Arab Emirates and its partners," Mazrouei said. United Arab Emirates' Minister of Energy Suhail Mohamed Al Mazrouei arrives for 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 | The exit "represents a sovereign and strategic choice stemming from its long-term economic vision, the evolution of its capabilities in the energy sector, and its steadfast commitment to global energy security," the oil minister said. …