Amanze Chinonye
The United Arab Emirates has announced its decision to withdraw from the Organization of the Petroleum Exporting Countries and the broader OPEC+ alliance, marking a significant shift in its energy policy after more than five decades of cooperation.
In an official statement, the UAE said the move reflects a strategic realignment aimed at prioritising national interests while maintaining its commitment to global energy market stability.
The country emphasised that its exit would not undermine its longstanding approach of collaboration with both producers and consumers. Instead, it noted that the decision would enhance its flexibility in responding to evolving global market dynamics.
Join our WhatsApp Channel“With a large and competitive resource base, the UAE will continue working with partners to develop resources, supporting economic growth and diversification,” the statement read.
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The government also expressed appreciation for the role of OPEC and OPEC+ in fostering cooperation among oil-producing nations, acknowledging what it described as “significant contributions and even greater sacrifices” made during its membership.
Despite the departure, the UAE reaffirmed that its production policies would remain guided by responsibility and a commitment to market stability, taking into account global supply and demand considerations.
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As part of its forward-looking strategy, the country said it would continue investing across the energy value chain, including oil, gas, renewable energy, and low-carbon technologies, in a bid to strengthen resilience and support long-term transformation of the global energy system.
The announcement signals a notable development in the global oil landscape, as the UAE seeks to balance its economic diversification goals with its role as a major energy producer.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
