Suhail Al Mazrouei

Money Moves

Leading UAE's withdrawal and post-OPEC production strategy

The United Arab Emirates joined OPEC in 1967, when crude sold for under $2 a barrel. On May 1, 2026, after fifty-nine years, it walks out—taking roughly 13% of OPEC's production capacity, according to the International Energy Agency. Officials cite quotas that capped UAE output near 3.2 million barrels a day despite physical capacity at Abu Dhabi National Oil Company (ADNOC) closer to 5 million. The exit is the largest single departure since Angola left in 2024, and it reshapes the strategic balance between Riyadh and Abu Dhabi.

Updated Apr 30