16:47 - 4.05.2026

---

May 4, Fineko/abc.az. The Organization of Arab Petroleum Exporting Countries (OAPEC) has officially confirmed UAE's withdrawal from its membership. The decision came into force on May 1.

ABC.AZ informs that earlier, the Emirates also announced its withdrawal from OPEC and the expanded OPEC+ agreement, explaining this by the desire to independently determine the level of oil production.

This move caused mixed reaction in other OPEC countries, but the UAE said that the decision was sovereign and related to plans to increase production.

OAPEC, established in 1968, unites Arab countries for economic and technological cooperation in the oil sector. 10 countries remain in the organization, including Saudi Arabia, Iraq and Kuwait.