Tehran has strongly condemned the United Arab Emirates’ recent decision to withdraw from the Organization of the Petroleum Exporting Countries (OPEC), describing the move as unproductive. Iran has vowed to continue honoring its obligations within the oil producers’ group despite the UAE’s exit.
Foreign Ministry spokesperson Esmaeil Baghaei responded to Abu Dhabi’s announcement by stating that any departure from OPEC motivated by negative or retaliatory intentions against fellow members would ultimately be detrimental to the organization’s cohesion.
In a notable accusation, Baghaei alleged that the UAE engaged in inappropriate conduct during the recent regional conflict by supporting Israel and the United States, though no evidence was presented to substantiate these claims.
The UAE, however, has maintained that its decision to leave OPEC and the broader OPEC+ alliance is driven by national interests rather than political factors. Sultan al-Jaber, CEO of the Abu Dhabi National Oil Company, explained that the withdrawal aims to provide the country with greater autonomy in managing its oil production policies.
Set to take effect on May 1, the UAE’s departure represents a rare fracture within OPEC, an organization that has traditionally prioritized unity among its members despite occasional disagreements over output quotas and pricing strategies.
Established in 1960 and later expanded to include non-member producers such as Russia under the OPEC+ framework, the group plays a pivotal role in regulating global oil supply and prices, accounting for a substantial portion of worldwide production.
As one of OPEC’s largest producers since joining in 1967, the UAE has been influential in shaping production decisions. Analysts warn that its exit could diminish the cartel’s power, especially since the UAE is among the few members with significant spare production capacity.
This development occurs amid heightened instability in global energy markets, with regional tensions disrupting critical shipping lanes like the Strait of Hormuz, through which about 20% of global oil supplies transit.
Oil prices have surged recently due to the ongoing conflict involving Iran, reflecting fears of supply interruptions and geopolitical risks.
While the UAE expressed appreciation for its longstanding relationship with OPEC and extended best wishes for the group’s future success, Iran emphasized its intention to remain committed to the organization. This divergence highlights growing divisions within the alliance at a crucial moment for global energy stability.
