Azernews.Az

Akbar Novruz

Read more

The United Arab Emirates has announced its withdrawal from OPEC and the broader OPEC+ framework, in a move that could reshape dynamics within global energy markets, AzerNEWS reports.

According to statements by UAE Energy Minister Suhail Mohammed Al Mazrouei, the decision followed a comprehensive review of the country’s long-term energy strategy and was taken independently, without prior coordination with Saudi Arabia, the leading force within OPEC.

The development comes against the backdrop of heightened regional instability, including tensions linked to Iran and disruptions affecting energy flows through the Strait of Hormuz, a critical route that handles a significant share of global oil and liquefied natural gas shipments.

While concerns have been raised about the potential fragmentation of OPEC, Al Mazrouei stated that the UAE’s exit is not expected to have a major immediate impact on global markets, given current conditions and supply dynamics.

Analysts suggest the move could weaken cohesion within the producer group, which has historically maintained a unified stance despite internal disagreements over production quotas and geopolitical issues.

The decision has also been interpreted in some circles as aligning with the long-standing criticism of OPEC by Donald Trump, who has accused the organization of influencing oil prices and previously linked US security support for Gulf states to energy policies.

The withdrawal follows broader regional dissatisfaction over security concerns, particularly related to maritime threats. UAE presidential diplomatic adviser Anwar Gargash recently voiced criticism regarding the regional response to such challenges.