BY COMFORT OOGBONNA
The United Arab Emirates said on Monday that its decision to leave OPEC and the broader OPEC+ alliance was based entirely on national priorities and was not intended as a move against any country. The comments came from Abu Dhabi National Oil Company CEO Sultan Al Jaber during a speech at the “Make It In The Emirates” conference.
The UAE officially exited the oil-producing alliance on May 1, a decision that has drawn global attention and intensified speculation about growing tensions between Abu Dhabi and neighboring Saudi Arabia, which has long been viewed as the dominant force within the Organization of the Petroleum Exporting Countries.
Al Jaber stressed that the move was a sovereign decision aimed at strengthening the UAE’s position in the rapidly changing global energy market.
“The United Arab Emirates’ sovereign decision to reposition itself within the global energy landscape, and to exit OPEC and OPEC+, is not a decision directed against anyone,” Al Jaber said during his address.
The departure marks a significant development for global oil markets because the UAE has been one of OPEC’s most influential members and one of the Gulf region’s largest oil producers. Analysts believe the move reflects Abu Dhabi’s desire for greater flexibility in setting production levels, expanding investment opportunities, and pursuing independent long-term energy strategies without being constrained by group quotas.
Relations between the UAE and Saudi Arabia have become increasingly complicated in recent years despite the two nations once being regarded as close strategic allies. Differences have emerged over oil policy, regional political influence, economic competition, and efforts to attract global businesses, foreign workers, and investment capital to their respective economies.
The rivalry has grown more visible as both countries attempt to position themselves as the Middle East’s leading financial and commercial center. The UAE has invested heavily in technology, renewable energy, tourism, and logistics, while Saudi Arabia has launched massive economic transformation programs under its Vision 2030 initiative.
Al Jaber said the UAE’s withdrawal from OPEC would allow the country to move more aggressively in expanding its energy investments and maximizing the value of its resources. He emphasized that the UAE still intends to remain a reliable and responsible participant in global energy markets despite leaving the alliance.
According to Al Jaber, the decision would provide the country with greater freedom to accelerate projects, attract investment, and adapt more quickly to changing global demand for energy. He added that the UAE remains committed to supporting stability in international oil markets and maintaining strong partnerships with major energy consumers and producers around the world.
During his speech, Al Jaber also addressed the broader geopolitical challenges facing the Gulf region amid the ongoing U.S.-Israeli conflict involving Iran. He urged private companies and sovereign wealth funds in the UAE to continue making bold economic decisions despite heightened regional tensions and security concerns.
“This phase requires serious and bold decisions. Investing at home, or direct domestic investment, is no longer an option; it is a priority,” he said.
The UAE has traditionally been viewed as one of the Middle East’s safest and most stable business destinations, attracting international corporations, investors, and expatriates from around the world. Dubai and Abu Dhabi have built reputations as major global financial and tourism centers supported by modern infrastructure and business-friendly policies.
However, recent Iranian missile attacks targeting U.S. military bases and Gulf states have increased anxiety across the region and raised concerns among international investors. The attacks have challenged the perception of the Gulf as a secure safe haven for business and financial activity.
Despite the heightened tensions, Al Jaber said the UAE has demonstrated resilience and remained steady during periods of regional instability. He emphasized the importance of strengthening domestic industries and encouraging greater investment within the country to ensure long-term economic security.
Energy markets are expected to closely watch the UAE’s next steps following its departure from OPEC, particularly regarding future production levels, investment partnerships, and its broader strategy in global oil and gas markets. The move could also reshape relationships within the Gulf region as competition and geopolitical tensions continue to evolve.
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