UAE To Withdraw From OPEC+ From Friday May 1

The United Arab Emirates has announced plans to withdraw from the OPEC+, citing national interests in a move that could reshape global oil dynamics.

The decision, reported by state news agency WAM, will take effect on Friday and comes amid soaring energy prices linked to the ongoing Middle East conflict.

In a statement, the UAE said its exit reflects a long-term strategic and economic vision, adding that it had made significant contributions and sacrifices during its time in the alliance.

The development follows tensions within the group over production quotas, as well as disruptions to oil shipments caused by instability around the Strait of Hormuz, a critical channel for global energy supplies.

The move is also seen against the backdrop of strained relations with Saudi Arabia, a leading force within OPEC+, and broader regional security challenges.

Analysts say the exit could have significant implications for global oil supply and pricing in an already volatile market.