The United Arab Emirates have started an in-depth review of his role in multilateral organizations after confirming his OPEC exit. The decision, effective from May 1, has generated global attention because it concerns one of the group’s main oil producers.
The UAE is reassessing all the international bodies to which it belongs (such as the Arab League or the Gulf Cooperation Council), as it believes that some of these organizations are not responding well to conflicts such as the Iran war.
Tensions with Saudi Arabia
The UAE’s departure from OPEC has widened the rift between it and Saudi Arabia, considered the leader of the oil group. Once staunch allies, they now clash over oil, regional politics, and even attracting talent and foreign investment.
In fact, the disagreements range from policies on crude oil production even attracting foreign investment and global talent, consolidating a growing rivalry in the region.
What is the United Arab Emirates really looking for?
They want what they call strategic autonomy, meaning less dependence on regional alliances they consider weak or unreliable. That’s why they are strengthening their bilateral relations with the United States and Israel, with whom they signed the Abraham Accords in 2020. They see Israel as a way to gain more regional influence and as a bridge to Washington.
Leaving OPEC and reviewing alliances could have relevant effects in the global energy balance. The UAE’s decision introduces new dynamics into the oil market and in the power configuration in the Middle East.
Source: Reuters
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