UAE Ambassador Suggests OPEC Exit Could Bolster Global Energy Supply

The United Arab Emirates’ Ambassador to the United Kingdom, Mansoor Abulhoul, suggested that exiting the Organization of the Petroleum Exporting Countries (OPEC) could allow the UAE to increase oil production and stabilize global energy markets. The statement, reported by The Times, addresses long-standing internal debates regarding the nation’s production limits within the 22-nation alliance. Production Caps and Capacity The UAE has invested billions of dollars to expand its crude oil production capacity to five million barrels per day (mbpd) by 2027. However, its current output remains constrained by OPEC+ quotas, which aim to manage global supply and maintain price floors. Ambassador Abulhoul indicated that the ability to pump more oil would provide the UAE with the revenue necessary to accelerate its transition toward renewable energy and hydrogen projects. Speculation regarding a potential "UAE-exit" has surfaced periodically over the last three years. Analysts note that the Emirates’ economic diversification strategy relies heavily on monetizing its hydrocarbon reserves before global demand peaks. By operating outside the cartel's restrictive framework, Abu Dhabi could…