The UAE has decided to withdraw from the OPEC organization.

• The United Arab Emirates has announced that it will withdraw from the OPEC and OPEC+ alliances starting next month.

• With this decision, its membership—spanning nearly 60 years—will come to an end.

• This move comes at a time when the UAE has made significant investments in boosting its oil production capacity and now seeks greater autonomy to increase output.

• According to experts, this decision could influence the trajectory of the global oil market and potentially dilute OPEC's influence to some extent.

• Notably, the UAE has long been a member of OPEC—initially joining in 1967 as Abu Dhabi, and becoming a full member following the country's formation in 1971.