BRUSSELS, April 29. /TASS/. The European Union is concerned about the United Arab Emirates’ decision to leave OPEC and the weakening of this key organization, despite the situation being favorable for the EU, a diplomatic source in Brussels told TASS.
"The UAE’s withdrawal from OPEC obviously weakens the oil cartel and will lead to increased oil supply, and, consequently, a rapid drop in oil prices after the reopening of the Strait of Hormuz. Without a doubt, this step is beneficial for the EU as a major oil consumer," the source said.
"At the same time, the UAE’s exit from a major regional organization under US influence raises serious concern in Brussels. The EU is a regional organization as well, though located in a different part of the world. Like OPEC, the EU has disagreements with the US, yet it considers the US its strategic partner. The dismantling of another important structure of the former world order, with US involvement, causes deep concern in Brussels," the diplomat noted.
He also recalled that, despite the EU currently facing a severe energy crisis, in the long term, "excessively low oil and gas prices are not advantageous" for the European Commission, as they increase the competitive edge of traditional fuels and complicate the EU’s strategy for a full transition to alternative energy sources."
According to the source, given these "multifaceted factors," Brussels will adopt an "observer position" and limit itself to statements that it "is closely monitoring the situation."
Previously, the Emirati state news agency WAM reported that the UAE had decided to withdraw from OPEC and OPEC+ effective May 1, 2026. The country emphasized that it shares the goal of stabilizing the global fuel market. Its oil production policy will "take into account global supply and demand," according to WAM.