UAE Exits OPEC Amid Shift to Independent Oil Production Strategy

OPEC, the Organization of the Petroleum Exporting Countries, was established in Baghdad in 1960 as an intergovernmental cartel to coordinate and unify petroleum policies among major oil-exporting countries.

With 12 member countries, OPEC plays a key role in influencing global crude oil by managing production levels and maintaining market stability. However, it faces challenges such as fluctuating global oil demand, the rise of renewable energy, and increasing non-OPEC oil production.

The UAE officially withdrew from OPEC and OPEC Plus on May 1, 2026, ending nearly six decades of membership to pursue an independent oil production strategy aligned with its national economic and energy priorities.