The United Arab Emirates' decision to leave OPEC was a sovereign choice driven by production strategy, not politics, UAE Energy Minister Suhail Al Mazrouei insisted Saturday in a post on X.
Suhail Al Mazrouei © EPN
The United Arab Emirates' decision to leave OPEC was a sovereign choice driven by production strategy, not politics, UAE Energy Minister Suhail Al Mazrouei insisted Saturday in a post on X.
"It is not driven by political considerations, nor does it reflect any division between the UAE and its partners," he wrote, seeking to downplay tensions following the UAE's departure from the oil producers' group on May 1.
The exit nonetheless carries significant weight. As one of OPEC's largest producers, the UAE's withdrawal weakens the group's grip on global oil supplies and deepens a growing rift with Saudi Arabia - OPEC’s de facto leader - at a particularly sensitive moment. An unprecedented energy crisis, triggered by the war involving Iran, has already exposed sharp divisions among Gulf nations.
The UAE's move signals a new era of fracture within a bloc that has long shaped the world's energy landscape.
By Mariam Al Mualla
The United Arab Emirates is moving decisively to reduce its vulnerability to Iran's control of the Strait of Hormuz, with Abu Dhabi ordering the acceleration of a new pipeline project that would allow hydrocarbon exports to bypass the strategic - and currently disrupted - waterway.
DP World Chairman Essa Kazim met with Syria's General Authority for Borders and Customs chief Qutaiba Ahmed Badawi to review progress on the Port of Tartous development, a flagship $800 million project that is rapidly becoming a cornerstone of Syria's economic recovery.
The United Arab Emirates' foreign ministry denied on Wednesday a statement by Israeli Prime Minister Benjamin Netanyahu's office that he visited the country and held a secret meeting with its president.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.