United Arab Emirates pledges to continue stabilising energy market after exiting OPEC

Dubai (ANTARA) - The United Arab Emirates (UAE) will continue to work closely with its partners and strengthen multilateral cooperation, despite deciding to leave the Organization of the Petroleum Exporting Countries (OPEC).

This was stated by the Director of Communication at the UAE Ministry of Foreign Affairs, Afra Mahash Al Hameli, on Tuesday (28/4).

Earlier on the same day, the WAM news agency reported that the UAE announced its decision to exit OPEC and OPEC+, effective from 1 May.

“The UAE’s decision to leave OPEC is a sovereign strategic choice based on its long-term economic vision,” said Al Hameli on the X platform.

The step is seen as reflecting the UAE’s efforts to increase flexibility in utilising energy capacity, “strengthening national development, boosting market confidence, and supporting global energy stability.”

Al Hameli added that the UAE will continue to deepen bilateral and multilateral cooperation and remain committed to contributing to a stable global energy market with greater agility and responsiveness.

According to the WAM report, after leaving OPEC, the UAE will continue to act responsibly by gradually and measurably increasing production in accordance with demand and market conditions.

UAE Energy Minister Suhail Mohamed Al Mazrouei stated that the decision reflects an evolution in policy aligned with long-term energy market fundamentals.

He also expressed appreciation to OPEC and its member countries for decades of cooperation and reaffirmed the UAE’s commitment to continuing to support global market stability.

“We remain committed to energy security, providing reliable, responsible, and low-carbon supplies, and supporting a stable global market,” said Al Mazrouei.

The UAE anticipates that global energy demand will continue to rise in the medium to long term and is committed to meeting those needs efficiently amid geopolitical instability.