Rating firm Fitch sees no near-term impact of UAE exit from OPEC
Published on April 30, 2026.
The United Arab Emirates' withdrawal from the Organisation of the Petroleum Exporting Countries (OPEC) will not significantly impact its performance, according to Fitch's head of Middle East Sovereign Ratings Paul Gamble. This decision was influenced by the closure of the Strait of Hormuz, which prevents the country from increasing its oil exports. However, once the Strait fully reopened, the UAE is likely to increase its oil sales.
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