Raw materials

Oil, the UAE exits Opec: worth 4% of the total

The choice reflects a long-term strategy and an acceleration of investment in domestic energy production, changing the balance of the oil cartel

28 April 2026

Dubai, Emirati Arabi Uniti, Asia - Vista dello skyline del centro città con moderni grattacieli dalle rive del canale Al Jadaf di Dubai 18/03/2025 IMAGO/Olaf Schuelke via Reuters

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Emirati targets increased production

2' min read

Translated by AI

Versione italiana

The United Arab Emirates will leave Opec and the Opec+ alliance as of 1 May, marking a turning point in the country's energy strategy and in the balance of the Saudi-led oil cartel.

The announcement, released by the state news agency Wam, explains that the decision 'reflects the UAE's long-term strategic and economic vision, as well as the evolution of its energy profile, in particular the acceleration of investments in domestic energy production'.

On a statistical level, the decision to leave the Opec (Organisation of the Petroleum Exporting Countries) is more than relevant. As of February 2026, the United Arab Emirates was the third largest producer in Opec, right after Saudi Arabia and Iraq. The country had joined the organisation almost 60 years ago - in 1967 -, seven years after its foundation. In general, the UAE is also among the world's largest oil producers.In 2022 - according to various official rankings - the country produced 4 million barrels per day, more than 4% of the world total, placing it seventh among producing nations. The decision - which comes in the midst of the conflict in Iran - "will help meet changing demand," the agency said, adding that the country will gradually increase production.

"After exiting Opec, the Emirates will continue their responsible role by gradually and deliberately increasing production in line with demand and market conditions."

This is stated in the note - published by the Wam news agency - announcing the farewell to the organisation although, it is emphasised, 'this decision does not change the Emirates' commitment to the stability of global markets nor its approach based on cooperation with producers and consumers, but rather enhances its ability to respond to evolving market needs'.

Relying on 'a large and competitive resource base, the United Arab Emirates will continue to work with partners to develop resources to support economic growth and diversification' and 'reaffirm their commitment to responsible production policies and a focus on market stability, taking into account global supply and demand'.

Emirates aim to increase production

Past market sources, dating back to 2024 and 2025, cited that Adnoc (Abu Dhabi National Oil Company) wanted to reach a target of 5 million barrels per day by as early as early 2026, bringing forward a target initially set for 2027 and increasing production by around one million barrels.

An orientation that would have created friction with Opec+ as early as last year, as the organisation has long implemented production limits to support prices. A past Bloomberg report, in fact, cited risks of a split as early as around 2021, with an internal clash in particular with Opec's de facto leader, Saudi Arabia, among the biggest supporters of production limitation policies.