The United Arab Emirates has announced it will exit OPEC and the broader OPEC+ grouping after nearly six decades, marking a significant shift in global energy dynamics.
The UAE said the move reflects its “long-term strategic and economic vision” as well as its evolving energy profile.
The country has long pushed for higher production quotas within OPEC, seeking to expand output beyond limits set by the cartel.
OPEC was founded in 1960 by Saudi Arabia, Iran, Iraq, Venezuela and Kuwait, with the UAE joining in 1967.
- The UAE is among the world’s top 10 oil producers, contributing roughly 3–4% of global output.
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