Ruptly
"UAE Minister of Energy and Infrastructure Suhail Al Mazrouei said that the country left OPEC and OPEC+ on 'good terms' as a 'responsible producer', speaking at a 'Make it in the Emirates' event on Monday. "This is a sovereign decision," he said. "We will always be acting responsibly and we will be as an individual producer hopefully… an enabler for growth. Hopefully we will contribute as well to the world stability between supply and demand. And I'm confident that we will be working with so many nations, including the members of OPEC and OPEC plus, but bilaterally rather than as part of a group." "So, you left on good terms?" he was asked. "We left on good terms," he agreed. " And as I said, we are a responsible producer and we have investors here. We're dealing with many of the world class industrial countries that are dependent on us. And we owe it to those partners who elected to invest in the UAE to produce what the world requires without restrictions with collaboration, of course, with all other producers, and we will gauge our engagements based on the requirements of the market, as well as based on what we need to produce for our local industries here in the Emirates." On tensions in the Strait of Hormuz, Al Mazrouei stressed that “no one should be allowed to control the Strait of Hormuz,” warning that such actions could have wide-ranging implications, particularly for countries and populations reliant on the flow of goods through the waterway. Both Iran and the US have sought to blockade the Strait. US President Donald Trump said on Sunday that the United States would start guiding ships through under 'Project Freedom'. On Monday, Ali Abdollahi, the head of the Iranian military’s unified command, hit back: "We warn that any foreign armed forces, especially the aggressive US army, will be attacked if they intend to approach and enter the Strait of Hormuz." The UAE officially announced its withdrawal from OPEC and OPEC+ as of May 1, 2026. U.S. President Trump praised the move, calling it “fantastic” and suggesting it could help lower oil and gas prices. The UAE joined OPEC in 1967 through the Emirate of Abu Dhabi, and maintained its membership after the formation of the federation in 1971, playing a role in supporting oil market stability and promoting dialogue among producing countries. "
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