The United Arab Emirates has left the Organization of Arab Petroleum Exporting Countries (OAPEC), an alliance that does not set production policies for its members, a statement from the intergovernmental organisation showed on Sunday.
The statement follows UAE's surprise announcement on April 28 of its departure from the OPEC and OPEC+ producer groups, to prioritise boosting its own output.
OAPEC was formed in 1968 with the aim of boosting cooperation among Arab oil exporters.
Last week, the UAE announced its exit from the Organization of the Petroleum Exporting Countries (OPEC) and its expanded grouping OPEC+, according to state media claims. The move comes amid ongoing geopolitical tensions and volatility in global energy markets.
Also Read: Big blow to oil markets? UAE quits OPEC, OPEC+
According to the reported statement, the UAE’s decision marks a significant blow to the oil-producing bloc and its leading member, Saudi Arabia.
The report highlights growing concerns over shipping routes, particularly the Strait of Hormuz, a critical chokepoint for global oil and gas flows.
Nearly one-fifth of the world’s crude oil and liquefied natural gas passes through the route, which has faced heightened risks due to regional tensions and threats to commercial vessels.
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