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The UAE has officially withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), effective May 1, according to a formal statement from the organization.
Emirates completed the Gulf state's full departure from all three major Arab and international oil groupings, having also exited OPEC and OPEC+ on the same date.
OAPEC's General Secretariat said it had been informed of a letter from UAE Energy and Infrastructure Minister Suhail Mohammed Al Mazrouei, addressed to Libyan Oil and Gas Minister Khalifa Rajab Abdul Sadiq, the chairman of the current session of OAPEC's council of ministers, containing the UAE's formal decision to withdraw.
"The General Secretariat of OAPEC expresses its appreciation for the role played by the United Arab Emirates throughout its period of membership, and its effective contributions to supporting the course of joint Arab action in the petroleum and energy sector," the statement said, adding that efforts to enhance cooperation and integration among remaining member states would continue.
Separately, seven OPEC+ member countries—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman—agreed in an online meeting to increase oil production by 188,000 barrels per day in June, within previously anticipated levels.
The decision addresses the voluntary production cuts of 1.65 million barrels per day announced in April 2023, and can be paused or reversed depending on market conditions, OPEC said.
The group's next meeting is scheduled for June 7.
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Algerian President Abdelmadjid Tebboune said the UAE's exit would not destabilize the organization.
"I don't see this as a major event. Because among Arab countries, the true cornerstone of OPEC is the brotherly Kingdom of Saudi Arabia," Tebboune said in an interview with Algerian state television.
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