UAE eyes 5 million bpd target after exit from OPEC+, Minister says

29/04/2026 01:59 AST

The UAE has set out a clear and publicly stated plan to raise its oil production capacity to 5 million barrels per day by 2027, positioning itself to play a larger role in meeting global demand at a time of heightened market pressure.

Speaking to Al Etihad News Centre, Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, said the country is moving ahead with implementing the plan, adding that the UAE aims to remain a responsible producer capable of contributing alongside other nations to address supply gaps in global markets.

He said the decision to exit Opec and the wider Opec+ alliance followed an extensive review of policies in the oil and gas sector, as well as the evolving role of the UAE's national companies, whose investments now span the full energy value chain both domestically and internationally.

Al Mazrouei added that the shift reflects the need for greater flexibility and faster decision-making in a rapidly changing global environment.

The Minister said the closure of the Strait of Hormuz had led to a significant drawdown of strategic reserves in several countries, creating the need for increased investment and higher production levels to offset the shortfall.

He noted that the UAE's production strategy is designed to respond to these conditions and ensure readiness to support market stability.

He stressed that the UAE continues to value its long-standing cooperation with Opec, which spans more than five decades, but said the current phase requires a different approach that allows for quicker responses to global developments. The country, he added, is committed to working with all producers to support energy security.

The UAE, he said, intends to play an active role in global energy markets, contributing to efforts aimed at ensuring stable and reliable supply, while advancing its position as a key partner in maintaining energy security worldwide.

Gulfnews