Close Menu
Vardiafrica
  • Home
  • Politics
    • Africa
    • Asia
    • Europe
    • US & Canada
    • World
  • Lifestyle
    • Entertainment
    • Film & Drama
    • Ent & Arts
  • Science
    • Health Science
    • Luxury
  • Finance

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

NCDMB Deepens Energy Ties with China, Seeks Boost in Manufacturing

September 25, 2026

COAS Unveils Airborne School,Tasks Troops On Special Operations Readiness

September 25, 2026

NCDMB launches In-house Academy for Knowledge-sharing among Staff, Stakeholders 

September 25, 2026
Facebook X (Twitter) Instagram
Trending
  • NCDMB Deepens Energy Ties with China, Seeks Boost in Manufacturing
  • COAS Unveils Airborne School,Tasks Troops On Special Operations Readiness
  • NCDMB launches In-house Academy for Knowledge-sharing among Staff, Stakeholders 
  • Tinubu to Nigerians: I’m correcting mistakes of past administrations — allow me to finish the work
  • FG Issues New Tax Order To Reduce Interest Rate For Late Payment
  • Dangote to build $660m petroleum pipeline linking Ethiopia, Djibouti
  • FG engages Chinese firm to revive Mambilla Power Project
  • NDDC Harps on Sustainable Partnerships for Niger Delta Development
Facebook X (Twitter) Instagram
VardiafricaVardiafrica
Demo
  • Home
  • Politics
    • Africa
    • Asia
    • Europe
    • US & Canada
    • World
  • Lifestyle
    • Entertainment
    • Film & Drama
    • Ent & Arts
  • Science
    • Health Science
    • Luxury
  • Finance
Vardiafrica
Home»Oil & Gas»UAE Announces Withdrawal From OPEC,OPEC+
Oil & Gas

UAE Announces Withdrawal From OPEC,OPEC+

VardiafricaBy VardiafricaApril 28, 2026Updated:April 28, 2026No Comments10 Views
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

The United Arab Emirates has announced its decision to withdraw from the Organisation of Petroleum Exporting Countries and the broader OPEC+ alliance, with the move scheduled to take effect on May 1, 2026.

The United Arab Emirates will leave OPEC next month, the government said on Tuesday.

Emirati officials had long considered the possibility of exiting the cartel, citing concerns that production quotas had limited the country’s oil export capacity.

According to a statement published by the Emirati state news agency, the decision was taken in line with the government’s “long-term strategic and economic vision” and its plans to accelerate investment in energy production. It said the move reflects efforts to respond more effectively to evolving global energy market conditions amid geopolitical uncertainty.

The statement also said the UAE expects global energy demand to remain on a “sustained growth trajectory” in the medium to long term, and that it will continue to bring additional production to market in a gradual and measured manner aligned with demand and market stability.

UAE Energy Minister Suhail Al Mazrouei, in a post on social media, said the decision reflects a “policy-driven evolution aligned with long-term market fundamentals” and thanked OPEC and member countries for decades of cooperation.

The UAE is one of OPEC’s key producers, with an estimated production capacity approaching five million barrels per day. Its withdrawal comes as the alliance continues to navigate geopolitical tensions in the Middle East and disruptions to oil shipments through the Strait of Hormuz, a major route for global crude exports.

The UAE joined OPEC in 1967 and has remained one of the group’s influential members. In recent years, however, Abu Dhabi has expressed concerns over production quotas, arguing that investments in expanding its oil production capacity should allow for higher output baselines.

On April 5, 2026, the UAE participated in a virtual OPEC+ meeting alongside Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, where members agreed to a production adjustment of 206,000 barrels per day for May as part of efforts to gradually unwind voluntary cuts.

The announcement comes as shipping activity through the Strait of Hormuz continues to face disruptions, affecting a significant share of global oil trade and contributing to supply uncertainty in energy markets.

There has been no immediate reaction from the OPEC Secretariat or other member countries at the time of filing this report.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Vardiafrica
  • Website
  • Facebook
  • X (Twitter)
  • Instagram

Related Posts

NCDMB Deepens Energy Ties with China, Seeks Boost in Manufacturing

September 25, 2026

NCDMB launches In-house Academy for Knowledge-sharing among Staff, Stakeholders 

September 25, 2026

Dangote to build $660m petroleum pipeline linking Ethiopia, Djibouti

September 24, 2026

Leave A Reply Cancel Reply

Top Posts

Nigeria Takes Over G-24 Leadership, Pledges Push For Global Economic Reforms

October 15, 2025613

FG exempts SMEs, farmers, manufacturers from paying withholding tax

July 2, 202498

You rejected party structure’ – PDP knocks Fubara, says Rivers Gov, Bala Mohammed may face disciplinary action

October 15, 202454

Trump set for White House return, vows to sign 100 Executive Orders in ‘Hours’ 

January 20, 202552
Don't Miss
Oil & Gas
Oil & Gas By VardiafricaSeptember 25, 20265 Mins Read3

NCDMB Deepens Energy Ties with China, Seeks Boost in Manufacturing

By VardiafricaSeptember 25, 20263 Oil & Gas Updated:September 25, 202605 Mins Read

The Nigerian Content Development and Monitoring Board (NCDMB) has intensified its drive to attract Chinese…

COAS Unveils Airborne School,Tasks Troops On Special Operations Readiness

September 25, 2026

NCDMB launches In-house Academy for Knowledge-sharing among Staff, Stakeholders 

September 25, 2026

Tinubu to Nigerians: I’m correcting mistakes of past administrations — allow me to finish the work

September 25, 2026
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

About Us
About Us

Your source for the verified news.

Email Us: [email protected]
Contact: +234 905 338 5856

Facebook X (Twitter) Instagram YouTube WhatsApp
Our Picks

NCDMB Deepens Energy Ties with China, Seeks Boost in Manufacturing

September 25, 2026

COAS Unveils Airborne School,Tasks Troops On Special Operations Readiness

September 25, 2026

NCDMB launches In-house Academy for Knowledge-sharing among Staff, Stakeholders 

September 25, 2026
Most Popular

Nigeria Takes Over G-24 Leadership, Pledges Push For Global Economic Reforms

October 15, 2025613

FG exempts SMEs, farmers, manufacturers from paying withholding tax

July 2, 202498

You rejected party structure’ – PDP knocks Fubara, says Rivers Gov, Bala Mohammed may face disciplinary action

October 15, 202454

Type above and press Enter to search. Press Esc to cancel.