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Market Chatter: UAE Reportedly Reviews Multilateral Ties After OPEC Exit, But No Further Withdrawals Planned

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The United Arab Emirates is reviewing its participation in multilateral organizations but is not considering any withdrawals at present, Reuters reported Wednesday, citing a UAE official.

The report came a day after Abu Dhabi announced it would leave the Organization of the Petroleum Exporting Countries and OPEC+ effective May 1. The official said the broader review focuses on the "utility" of UAE membership in international and regional bodies.

The comments have fueled speculation that the UAE could reassess its role in other organizations, including the Arab League and the Gulf Cooperation Council.

The UAE Ministry of Foreign Affairs did not immediately respond to a request for comment from.

The OPEC exit, which involves one of the group's largest producers, has sharpened tensions with Saudi Arabia, OPEC's de facto leader. Relations between Abu Dhabi and Riyadh, long-standing allies, have grown increasingly strained in recent years over oil policy disputes, regional security concerns, and competition for investment and skilled labor, Reuters reported.

The reassessment comes amid wider debate in Abu Dhabi over regional alignments following the Iran war, with Emirati officials criticizing the GCC's collective response.

Senior UAE official Anwar Gargash said on Monday the GCC's political and military response to the conflict was "the weakest in history," adding that expectations for the Arab League were already low.

"I expected such a weak position from the Arab League... but I have not expected it from the GCC, and I am surprised by it," Gargash reportedly said.

He also said the Gulf's strategy to contain Iran had "failed miserably" and warned that Tehran could remain a long-term threat, according to The National.

Gargash said the UAE would "scrutinize" its regional and international relationships to assess the reliability of partners while strengthening its economic resilience. "Strategic autonomy remains the UAE's enduring choice," he said.

OPEC+ is expected to approve a modest output increase on Sunday despite the UAE's departure, three sources reportedly told Reuters. The group is likely to raise production targets by about 188,000 barrels per day, roughly in line with last month's 206,000 bpd hike after adjusting for the UAE's exit.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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