LONDON: The United Arab Emirates has officially withdrawn from the Organization of Arab Petroleum Exporting Countries, marking a notable shift in its regional energy alignment.
The intergovernmental body confirmed the development in a statement on Sunday. Established in 1968, OAPEC was created to enhance cooperation and coordination among Arab oil-exporting nations, though it does not play a direct role in setting production quotas.
The latest move follows the UAE’s earlier announcement on April 28 to exit the broader producer alliances of Organization of the Petroleum Exporting Countries and OPEC Plus. The decision underscores Abu Dhabi’s strategy to prioritise increasing its own oil production capacity and pursuing a more independent energy policy.
Analysts view the UAE’s departure from OAPEC as largely symbolic but reflective of a broader recalibration of its role within traditional oil alliances, as it seeks greater flexibility in meeting its long-term production and economic goals.
By Reuters
