UAE-OPEC/Withdrawal
UAE-OPEC/Withdrawal
Dateline : April 28, 2026/File
Location : United Arab Emirates
Duration : 0'55
FILE: Vienna, Austria - Date Unknown (CCTV - No access Chinese mainland)
1. Various of facade of OPEC headquarters
FILE: Abu Dhabi, UAE - July 20, 2018 (CCTV - No access Chinese mainland)
2. Presidential Palace
FILE: Abu Dhabi, UAE - Date Unknown (CCTV - No access Chines mainland)
3. National flag of UAE
FILE: Bab Oilfield, UAE - 2023 (CGTN - No access Chinese mainland)
4. Various of oil field facilities, pipelines, fire
FILE: UAE - Date Unknown (CCTV - No access Chinese mainland)
5. Aerial shot of traffic; skyscrapers
FILE: Dubai, UAE - 2023 (CGTN - No access Chinese mainland)
6. Aerial shot of cityscape
FILE: Abu Dhabi, UAE - Date Unknown (CCTV - No access Chinese mainland)
7. Aerial shot of cityscape, flag of United Arab Emirates (UAE)
FILE: UAE - Date Unknown (CCTV - No access Chinese mainland)
8. Aerial shot of skyscrapers
The United Arab Emirates (UAE) will withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance, effective from May 1, 2026, the Emirates News Agency (WAM) reported on Tuesday.
Minister of Energy and Infrastructure Suhail Al Mazrouei, speaking in a media interview, said the UAE's decision to quit the OPEC and the OPEC+ mechanism is aligned with a policy-based evolution of the sector and in line with long-term market fundamentals. It will enable the UAE to cooperate more flexibly with its partners and investors, ensuring that future global market demand for crude oil products, petrochemicals, natural gas, and other energy sectors can be met, he said.
The UAE joined OPEC in 1967, seven years after the organization was founded.
Data shows that in February this year, the UAE ranked third in oil production among OPEC members, trailing only Saudi Arabia and Iraq.
OPEC was founded in September 1960 in Iraq, with the aim of coordinating and unifying the petroleum policies and prices of member countries to ensure stability in the international oil market.
Before the UAE announced its withdrawal, OPEC members states accounted for about 36 percent of global oil production and controlled roughly 80 percent of the world's proven oil reserves.
ID : 8476920
Published : 2026-04-29 00:58
Last Modified : 2026-04-29 17:50:23
Source : China Central Television (CCTV),China Global Television Network (CGTN)
Restrictions : No access Chinese mainland
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