In nearly 60 years of membership, the UAE became central to executing organizational goals and maintaining global leverage. Before exiting, the UAE produced roughly 13 percent of OPEC’s total crude oil production, securing OPEC’s considerable market share. Still, the UAE produced at only ~70 percent of its production capacity under OPEC’s quota, clashing with the state’s continued investment in long-term market dominance. In an April interview with The New York Times, UAE Energy Minister Al Mazrouei conveyed that the UAE needs independence to execute its strategic goals, “unconstrained by any groups.” Speculation suggests the move reflects conflicting strategies between the UAE and Saudi Arabia, but the state’s position stresses the decision was objective and unrelated to intermember competition.

Read More