ABU DHABI<\/strong> \u2013 The United Arab Emirates has announced its departure from the Organization of the Petroleum Exporting Countries (OPEC) after six decades of membership, a decision that sends ripples through global energy markets already reeling from profound instability in the Middle East.<\/p>\n This significant move, effective May 1, was conveyed through the state-run WAM news agency. It comes at a critical juncture, as the region grapples with an unprecedented energy supply shock directly spurred by the aggressive US-Israeli war against Iran. This conflict has not only destabilized the Arabian Gulf but also threatened vital shipping lanes like the Strait of Hormuz, impacting global oil and gas supplies and causing prices to soar.<\/p>\n OPEC, founded in Iran in 1960, aimed to coordinate production among member nations to stabilize oil markets and ensure steady supply and income. The UAE joined in 1967. Its withdrawal reduces the cartel to 11 member countries, including key players like Saudi Arabia, Iran, and Iraq.<\/p>\n A statement from WAM emphasized that the decision followed a “comprehensive review of the UAE\u2019s production policy and its current and future capacity,” asserting it was “based on our national interest and our commitment to contributing effectively to meeting the market\u2019s pressing needs.” The statement pointed to “near-term volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz,” as factors affecting supply dynamics, while also noting “sustained growth in global energy demand over the medium to long-term.”<\/p>\n Reports indicate that the UAE has long expressed frustrations with production quotas imposed by OPEC members, which are often perceived as attempts to control oil prices and limit sovereign production capabilities. The desire for greater flexibility in its oil policy appears to be a driving force behind this departure, allowing the UAE to potentially increase its output independently.<\/p>\n Analysts, such as David Oxley, chief climate and commodities economist for Capital Economics, suggest the UAE has been “itching to pump more oil.” He warned that if energy flows normalize after the current disruptions, the UAE’s exit could lead to an additional one million barrels per day, equivalent to about 1% of global oil demand. Furthermore, this bold move by the UAE could potentially trigger a domino effect, prompting other members to reconsider their allegiance to OPEC, with far-reaching implications for the global oil market and prices.<\/p>\n The timing of this withdrawal underscores the profound geopolitical shifts occurring in the Middle East. As the region navigates the complexities of external interference and internal dynamics, nations are increasingly asserting their autonomy in critical sectors like energy, seeking to safeguard their national interests amidst a volatile international landscape.<\/p>\n #UAEOPECExit #MiddleEastCrisis #USIsraelWar #IranTensions #StraitOfHormuz #GlobalEnergy #OilMarket #OPEC #Geopolitics #EnergySecurity<\/p>\n","protected":false},"excerpt":{"rendered":" UAE Exits OPEC Amid Escalating Regional Tensions Fueled by US-Israeli Aggression ABU DHABI \u2013 The United Arab Emirates has announced its departure from the Organization of the Petroleum Exporting Countries (OPEC) after six decades of membership, a decision that sends ripples through global energy markets already reeling from profound instability in the Middle East. This […]<\/p>\n","protected":false},"author":2,"featured_media":12308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-12307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle-east-news"],"_links":{"self":[{"href":"https:\/\/fajr.news\/index.php?rest_route=\/wp\/v2\/posts\/12307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fajr.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fajr.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fajr.news\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fajr.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12307"}],"version-history":[{"count":0,"href":"https:\/\/fajr.news\/index.php?rest_route=\/wp\/v2\/posts\/12307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fajr.news\/index.php?rest_route=\/wp\/v2\/media\/12308"}],"wp:attachment":[{"href":"https:\/\/fajr.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fajr.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fajr.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}