Finance

UAE Withdraws From OAPEC Following Earlier Exit From OPEC Alliance

Source: Google News - UAE Business

UAE Withdraws From OAPEC Following Earlier Exit From OPEC Alliance

The UAE has formally withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC) as it pivots toward national production targets.

The United Arab Emirates has officially withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), effective immediately. The decision, confirmed by the Ministry of Energy and Infrastructure, follows the country’s departure from the broader OPEC alliance earlier this year. This move ends decades of membership in the Kuwait-based regional organization founded to coordinate energy policies among Arab states. Shift in Energy Strategy The UAE Cabinet approved the withdrawal after a periodic review of the country’s membership in international organizations. Government officials stated that the exit is part of a broader strategy to prioritize national interests and adapt to changing global energy dynamics. While the UAE remains a major crude producer, its current focus has shifted toward expanding its liquefied natural gas (LNG) capacity and accelerating renewable energy projects through entities like Masdar. Regional and Global Impact OAPEC, which includes members such as Saudi Arabia, Kuwait, and Iraq, was established in 1968 to foster technical cooperation and manage joint ventures in the oil industry. The UAE’s departure reduces the organization’s membership and…