Suhail Al Mazrouei

Notable Quotes

We reaffirm our appreciation for the efforts of both OPEC and the OPEC+ alliance and wish them success.

from UAE exits OPEC after 59 years, removing 13% of cartel capacity · Updated May 31

Stories

OPEC+ sets oil policy without the UAE for the first time

Built World

No longer bound by OPEC+ quotas

For decades, every OPEC+ output decision had the United Arab Emirates in the room, usually pushing to pump more. On Sunday, ministers met in Vienna without it for the first time. The UAE's exit took effect May 1 and pulled about 3.5 million barrels a day out of the group's quota math.

Updated Jun 7

UAE exits OPEC after 59 years, removing 13% of cartel capacity

Money Moves

Leading UAE's withdrawal and post-OPEC production strategy

The United Arab Emirates joined OPEC in 1967, when crude sold for under $2 a barrel. On May 1, 2026, after fifty-nine years, it walks out—taking roughly 13% of OPEC's production capacity, according to the International Energy Agency.

Updated May 31