UAE energy minister warns global strategic crude reserves are being drained at a 'scary level,' as the country makes a decision to address consumer needs.

The United Arab Emirates announces it will withdraw from OPEC and OPEC+ effective May 1, 2026. The nation plans to focus on national interests and investor commitments while maintaining market stability.

The United Arab Emirates announced its intention to withdraw from OPEC and OPEC+ effective May 1, 2026, citing a long-term strategic vision. The move will be discussed at the alliance's next meeting in June, according to reports.

UAE exits OPEC, minister says move will enable better response to market demands

UAE's exit from OPEC will enable it to respond better to market demands, Energy Minister Suhail Al Mazrouei says.

UAE Energy Minister Mazrouei says the oil market needs 'extraordinary measures' without providing details.

UAE Energy Minister Suhail Al Mazrouei says the oil market needs 'extraordinary measures'.

UAE quits OPEC, major blow to Saudi Arabia as Iran war disrupts global energy markets.

The United Arab Emirates has withdrawn from the Organization of the Petroleum Exporting Countries (OPEC), delivering a significant blow to leading member Saudi Arabia amid the ongoing Iran war's disruption of global energy markets.