The UAE has announced its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance, effective May 1, 2026, marking a significant shift in the country’s energy policy as it seeks greater flexibility in managing production and long-term growth.

The decision follows a comprehensive review of the UAE’s production strategy, current capacity and future energy outlook, and is aligned with the country’s broader economic and industrial ambitions, WAM reported.

In a statement, the UAE said the move reflects its “long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production,” while reinforcing its commitment to remaining a responsible and reliable participant in global energy markets.

The exit comes at a time of continued volatility in global energy markets, including disruptions in the Arabian Gulf and the Strait of Hormuz. However, the UAE noted that underlying demand trends remain strong over the medium to long term, requiring flexible and reliable supply.

The country emphasised that its decision is rooted in national interest, while maintaining its commitment to supporting global market stability. The UAE has been a member of OPEC since 1967, initially through Abu Dhabi, and continued its participation following the formation of the federation in 1971.

Despite exiting the alliance, the UAE signalled it will continue to engage constructively with global energy stakeholders and bring additional production to market in a measured and demand-aligned manner.

“The UAE will continue to act responsibly, bringing additional production to market in a gradual and measured manner, aligned with demand and market conditions,” the statement said.

The move underscores a broader evolution in the UAE’s energy strategy, which is increasingly focused on balancing hydrocarbons with investments in renewables, low-carbon technologies and energy transition initiatives.

The UAE also highlighted its position as a producer of cost-competitive and lower-carbon oil, noting that such resources will continue to play a role in supporting global economic growth while contributing to emissions reduction goals.

While stepping away from formal coordination under OPEC and OPEC+, the UAE reaffirmed its commitment to cooperation with both producers and consumers to ensure stability in global markets.

“We reaffirm our appreciation for the efforts of both OPEC and the OPEC+ alliance and wish them success,” the statement added. “During our time in the organisation, we made significant contributions and even greater sacrifices for the benefit of all.”

Looking ahead, the UAE said it will continue investing across the full energy value chain, including oil, gas, renewables and low-carbon solutions, positioning itself to respond to evolving market dynamics while supporting long-term energy system transformation.

Dubai Electricity and Water Authority (DEWA) has achieved a new global benchmark in electricity supply reliability, recording just 0.82 minutes of Customer Minutes Lost (CML) per year, equivalent to about 49 seconds, according to a WAM report.

The result surpasses its own previous world record of 0.94 minutes set in 2024, reflecting an improvement of nearly 13 per cent.

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“We utilise the latest technologies of the Fourth Industrial Revolution, particularly artificial intelligence, which we are fully integrating into DEWA’s strategies and operations,” said Saeed Mohammed Al Tayer, MD and CEO of DEWA.

This milestone reinforces Dubai’s position as a global leader in utility performance and reflects DEWA’s sustained investment in digital infrastructure and operational excellence across network

Smart grid transformation

Al Tayer said DEWA’s smart grid forms a core pillar of its long-term strategy to ensure highly reliable, efficient and sustainable energy services. He noted that the initiative supports Dubai’s broader development goals, including the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda (D33), which aim to position the city among the world’s top three urban economies.

The authority has invested Dhs7bn in its smart grid programme through 2035, introducing advanced systems that enhance transmission and distribution efficiency, reduce outages, and improve load management across the network.

Advanced restoration system

A key innovation is DEWA’s Automatic Smart Grid Restoration System, the first of its kind in the Middle East and North Africa. It enables real-time monitoring, remote control, and automated fault detection without human intervention, allowing faster isolation of issues and rapid service restoration.

Officials said the system continues to enhance resilience, reduce response times, and improve customer satisfaction by ensuring uninterrupted electricity supply across Dubai’s rapidly expanding urban infrastructure and supporting future demand growth driven by smart city initiatives underpinned by advanced automation systems across the emirate Dubai

DEWA said it has steadily reduced CML from 6.88 minutes in 2012 to 0.82 minutes in 2025, significantly outperforming the European Union utility average of around 15 minutes.

Gold fell to a three-week low on Tuesday, as elevated oil prices kept inflation concerns high, while investors awaited key central bank decisions this week to see if the Middle East conflict has altered the interest rate outlook.

Spot gold was down 1.1 per cent at $4,628.63 per ounce, as of 0746 GMT, its lowest level since April 7. US gold futures for June delivery fell 1.1 per cent to $4,642.90.

US President Donald Trump is unhappy with the latest Iranian proposal on resolving the two-month war, a US official said, dampening hopes for a resolution to the conflict that has disrupted energy supplies, fuelled inflation, and killed thousands.

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“Geopolitical headlines are still the main driver (of gold prices). In the event of a deal (between the US and Iran) or an interim deal, the dollar should weaken, and gold will likely break out to the upside,” said Edward Meir, analyst at Marex.

The dollar gained, and oil prices rose above $111 a barrel, as the crucial Strait of Hormuz waterway remained largely shut.

Higher crude oil prices can stoke inflation by raising transportation and production costs, increasing the likelihood of higher interest rates. While gold is considered an inflation hedge, high interest rates make yield-bearing assets more attractive, weighing on its appeal.

The Bank of Japan kept interest rates steady on Tuesday but three of its nine-member board proposed hiking borrowing costs, signalling policymakers’ concerns over inflationary pressures from the Middle East conflict.

The US Federal Reserve is also widely expected to hold interest rates steady at the end of its two-day meeting on Wednesday.

Investors will be focusing on other central bank decisions this week, including those from the European Central Bank, the Bank of England and the Bank of Canada.

Spot silver fell 2.9 per cent to $73.28 per ounce, platinum lost 1.6 per cent to $1,951.33, and palladium was down 1.6 per cent at $1,453.38.

US President Donald Trump is unhappy with the latest Iranian proposal on resolving the two-month conflict, a US official said, dampening hopes for resolution of a conflict that has disrupted energy supplies, fuelled inflation, and killed thousands.

Iran’s latest proposal would set aside discussion of Iran’s nuclear programme until the war, on hold following a ceasefire announced earlier this month, is ended and disputes over shipping from the Gulf are resolved.

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Trump is unhappy with Iran’s proposal as he wants nuclear issues dealt with from the outset, said a US official briefed on the president’s Monday meeting with his advisers, speaking on condition of anonymity.

White House spokeswoman Olivia Wales said the US has “been clear about our red lines” as it seeks to end the conflict it began in February alongside Israel.

A previous agreement in 2015 between Iran and multiple other countries including the US sharply curtailed Iran’s nuclear programme, which it has long maintained is for peaceful, civilian purposes. But that deal fell apart when Trump unilaterally withdrew from it in his first term in office.

Hopes of reviving peace efforts have receded since the US president scrapped a visit planned for last weekend by his special envoy Steve Witkoff and son-in-law Jared Kushner to mediator Pakistan.

Iranian Foreign Minister Abbas Araqchi shuttled in and out of Islamabad twice during the weekend. He also visited Oman and on Monday went to Russia, where he met President Vladimir Putin and received words of support from a longstanding ally.

Iran’s Deputy Defence Minister Reza Talaei-Nik said on Tuesday that Tehran was ready to share defensive weapons capabilities and experiences gained from “America’s defeat” with “independent” nations including those of the Shanghai Cooperation Organisation. That bloc includes Iran, Russia, China, India, Pakistan and Central Asian states.

Oil prices rise again

With the warring sides still seemingly far apart, oil prices resumed their upward march, rising nearly 3 per cent on Tuesday and extending gains from the previous session.

“For oil traders, it’s not the rhetoric that matters any more, but the actual physical flow of crude oil through the Strait of Hormuz, and right now, that flow remains constrained,” Fawad Razaqzada, market analyst at City Index and FOREX.com, said in a note.

At least six tankers loaded with Iranian oil have been forced back to Iran by the US blockade in recent days, ship-tracking data showed, underscoring the war’s impact on traffic.

Iran’s foreign ministry condemned US action against Iran-linked tankers as “outright legalization of piracy and armed robbery on the high seas”, in a social media post.

However, government spokesperson Fatemeh Mohajerani told state media on Tuesday that Iran had prepared for maritime blockade scenarios as early as the US 2024 presidential election and made necessary arrangements so that “there is nothing to worry about”.

She added Tehran was using northern, eastern and western trade corridors that do not rely on Gulf ports to neutralise the blockade’s effects.

Between 125 and 140 ships usually crossed in and out of the strait daily before the war, but only seven have done so in the past day, according to Kpler ship-tracking data and satellite analysis from SynMax, and none of them were carrying oil bound for the global market.

With his approval ratings falling, Trump faces domestic pressure to end a war for which he has given the US public shifting rationales.

Senior Iranian officials, speaking on condition of anonymity, told Reuters the proposal carried by Araqchi to Islamabad over the weekend envisioned talks in stages, with the nuclear issue to be set aside at the start.

A first step would require ending the US-Israeli war on Iran and providing guarantees that the US cannot start it up again. Then negotiators would resolve the US Navy’s blockade of Iran’s trade by sea and the fate of the Strait of Hormuz, which Iran aims to reopen under its control.

Only then would talks look at other issues, including the longstanding dispute over Iran’s nuclear programme, with Iran still seeking some kind of US acknowledgment of its right to enrich uranium.

Sharjah Department of Public Works (SDPW) has completed the Ladies Beach Park in Dibba Al Hisn, delivering a 6,350 square metre women-focused recreational development aimed at enhancing quality of life and community amenities.

The project is part of wider efforts to expand modern leisure infrastructure across the emirate, according to a WAM report.

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The project includes a two-wing building featuring a fitness hall, creativity hall, café, administrative offices, a clinic, a prayer room, and security facilities, along with supporting services. Designed as an integrated destination, the park provides a dedicated environment for women to engage in sports, wellness, and social activities within a modern and well-equipped setting.

Family-friendly amenities and fitness spaces

Additional features include a shaded children’s playground with safe rubber flooring and a waterfront jogging track, encouraging outdoor activity and fitness in a family-friendly environment.

The SDPW also implemented coastal protection works, constructing a 200-metre rock revetment to safeguard the shoreline and park infrastructure from wave impact. The beach has been enclosed with a 3-metre-high fence to ensure privacy, alongside lifeguard towers, bathing areas, and service rooms to enhance visitor safety.

The development strengthens Dibba Al Hisn’s recreational offering and supports the emirate’s commitment to providing safe, inclusive public spaces for women.