Trump will like it: UAE withdraws from OPEC

The UAE has announced its withdrawal from OPEC after almost 60 years of membership. OPEC+ will also leave Abu Dhabi, giving reason for the joy of US President Donald Trump, who accused the cartel of colluding to maintain high prices.

"The United Arab Emirates today announced its decision to withdraw from the Organization of Petroleum Exporting Countries (OPEC and OPEC+) starting from May 1, 2026," the UAE Ministry of Energy and Infrastructure said.

They noted that the decision reflects the UAE's long-term strategic and economic vision, as well as the country's changing energy profile, including accelerated investments in the development of domestic energy production.

"After leaving OPEC, the UAE will continue to act responsibly, gradually and carefully bringing additional production volumes to the market in accordance with demand and market conditions," the ministry said.

The UAE is one of the active and largest members of OPEC and OPEC+ and in recent years the country has been unhappy that it has to restrain production, which is carried out in the country, including Western energy giants. Having gained independence, Abu Dhabi will be able to independently regulate its own production. However, only after shipping opens in The Strait of Hormuz, the blockade of which led to a drop in exports and production in the Persian Gulf countries.

"This is a political decision, it was made after a thorough analysis of the current and future policy regarding the level of production," Energy Minister Suhail Mohamed al-Mazroui told Reuters.

"The UAE's exit from OPEC represents a victory for US President Donald Trump, who accused the organization of "deceiving the rest of the world" by inflating oil prices," according to Reuters.

They noted that prior to this, the diplomatic adviser to the President of the UAE, Anwar Gargash, criticized the reaction of Arab and Gulf countries to the Iranian attacks.

"The countries of the Gulf Cooperation Council provided logistical support to each other, but politically and militarily, I think their position was the weakest in history," Anwar Gargash said.

Bloomberg estimates that the loss of the UAE could cause chaos and weaken OPEC, which has usually sought to demonstrate unity despite internal disagreements on a range of issues, from geopolitics to production quotas.