By Al Ahed Staff, Agencies
The United Arab Emirates has said it will leave OPEC on May 1 after more than 50 years of membership. The government explained that the decision is part of a long-term economic vision and strategy focused on increasing flexibility in its energy sector.
Officials noted that OPEC production quotas have previously limited the UAE’s ability to expand oil exports. By leaving the organization, the country aims to boost investment in domestic energy production and respond more freely to global supply and demand conditions.
The UAE also pointed to regional tensions and economic pressures, including security challenges affecting key trade routes, as part of the broader context for its decision.
While exiting OPEC, the country stressed that it remains committed to responsible production policies and global market stability. It also emphasized continued investment in oil, gas, renewable energy, and low-carbon technologies.
The UAE highlighted its long history of cooperation with OPEC members but said the move reflects an evolution in its approach to energy policy and economic planning.
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