Leading crude oil producers among Opec members in 2025
UAE quits Opec after serving as its fourth-largest oil producer
Illustration: Ashrafun Naher Ananna/TBS Creative
The Organization of the Petroleum Exporting Countries (Opec), founded in 1960 to coordinate global oil production, has lost one of its major members following the United Arab Emirates' exit from the group on 1 May.
After decades of membership, the UAE's departure from Opec signals a strategic shift towards prioritising national interests and pursuing a more independent energy policy. The decision comes at a sensitive moment, as the region and the rest of world are grappling with an energy crisis triggered by the US-Israel war on Iran.
Keep updated, follow The Business Standard's Google news channel
