The United Arab Emirates (UAE) announced on Tuesday that it will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ mechanism, effective on May 1, 2026.

UAE Minister of Energy and Infrastructure Suhail Al Mazrouei said the country has long been a member of OPEC and OPEC+, adding that global demand for energy will continue to grow and that the world will require a greater energy supply.

Al Mazrouei said the decision will allow the UAE to cooperate more flexibly with partners and investors, ensuring it can meet future global market demand for crude oil, petrochemical products, natural gas, and other energy sectors.

UAE oil firm asks clients to lift cargoes outside the Strait of Hormuz

The move coincides with mounting risks to the UAE's energy exports. According to Bloomberg, a state-owned oil firm has notified some long-term clients that their cargo can be lifted in May at Fujairah, outside the Strait of Hormuz, via ship-to-ship transfers, suggesting that some tankers may have transited the strategic waterway despite heightened tensions.

Some customers of Abu Dhabi National Oil Company were informed they could receive cargo, including Upper Zakum crude oil, which is typically exported from Zirku Island in the Persian Gulf. The UAE has long relied on the Strait of Hormuz, shipping up to 2 million barrels of oil per day through the choke point before the US-Israel war with Iran.