Why did the UAE decide to exit OPEC, according to its oil chief and energy minister?

According to Sultan Al Jaber, CEO of Abu Dhabi National Oil Co. (Adnoc), the UAE’s exit from OPEC serves its national interests and long-term strategic objectives, aligning with its industrial, economic, and developmental ambitions—and specifically gives it greater ability to accelerate investment, expand, and create value. UAE Energy Minister Suhail Al Mazrouei added that the disruption caused by the war in the Middle East created an opportune time for the decision, and OPEC’s control over production levels had been a longstanding sticking point in the UAE’s participation.

What major investment initiative did Adnoc announce following the UAE’s OPEC exit?

Adnoc announced plans to accelerate its growth push with 200 billion dirhams ($55 billion) in oil-project awards as part of an already-announced $150 billion program. This announcement was made on the same day as an OPEC meeting that approved only a modest and symbolic increase in June production quotas.

UAE Oil Head Says OPEC Exit Gives Ability to Speed Up Investment

May 3, 2026

Adnoc plans to accelerate investment with $55 billion in project awards following the UAE's exit from OPEC. The state-owned company aims to increase oil production capacity to 5 million barrels per day by 2027.

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