NEWS XTRA
OPEC EXIT NOT DIRECTED AGAINST ANYONE – UAE OFFICIAL
A senior United Arab Emirates official has said the country’s decision to leave the Organization of the Petroleum Exporting Countries (OPEC) was not aimed at any country.
Speaking in Abu Dhabi, UAE minister and ADNOC CEO Sultan Al Jaber said the move was driven purely by national interests and long-term economic strategy.
He explained that the exit, which took effect on Friday, is part of a broader plan to reposition the UAE within the global energy landscape and strengthen its economy.
“The decision… is not directed against anyone,” he said, despite reports of tensions with Saudi Arabia, widely seen as OPEC’s leading member.
The UAE, previously OPEC’s fourth-largest oil producer, has had longstanding disagreements over production quotas, which limited its output to about 3.4 million barrels per day.
Authorities in Abu Dhabi are now aiming to increase production capacity to five million barrels per day by 2027, alongside major investments in the energy and technology sectors.
Officials say leaving OPEC will give the country greater flexibility to expand production, attract investment, and diversify its economy, including into artificial intelligence and industrial development.
Analysts note that while the UAE is not the first country to exit OPEC, it is the most significant producer to do so, a move that could impact the group’s ability to influence global oil prices.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board