UAE Announces Withdrawal from OPEC on 5/1, Indian Company: Sufficient Energy Aids Economy
The UAE announced its withdrawal from OPEC and OPEC+ alliances, effective May 1st. Sagar Adani, Executive Director of Adani Green Energy, India's largest renewable energy company, stated that this could be beneficial for India as sufficient energy will help strengthen its economic resilience. The UAE plans to increase its oil production capacity.
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- 📰 Published: April 29, 2026 at 23:50
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Central News Agency
(Central News Agency reporter Li Jin-wei, New Delhi 29th) The United Arab Emirates announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and its partners, the OPEC+ alliance. Sagar Adani, Executive Director of Adani Green Energy, India's largest renewable energy company, stated today that this might be good news for India, as sufficient energy will help strengthen India's economic resilience.
The United Arab Emirates and Saudi Arabia have long been at odds over oil production policies and competitive regional political influence. Amid a global energy shortage caused by the Middle East war blocking the Strait of Hormuz, the UAE announced its withdrawal from OPEC and the OPEC+ alliance, effective May 1st.
The Economic Times of India pointed out that Sagar Adani, Executive Director of Adani Green Energy, stated today at an event that the UAE's announcement to withdraw from OPEC and OPEC+ might be beneficial for India, as sufficient energy will help strengthen India's economic resilience.
India's Asian News International (ANI) reported that Adani pointed out that India faces the challenge of energy shortages, but its close relationship with the United Arab Emirates may allow India to benefit from this.
Adani believes that factors such as the outbreak of conflicts and the impact of energy shortages on the market will cause a ripple effect on the economy, and in this generation, access to energy will determine the strength of economic resilience.
Adani pointed out that even though India's per capita energy consumption is far below the global average, there is still a need for structural expansion to ensure that energy is affordable and sustainable in the future.
Adani called for reducing dependence on energy imports to maintain long-term economic stability, thus advocating for more diversified energy acquisition methods, such as combining renewable energy with hydropower, thermal power, and nuclear energy, to ensure stable electricity supply.
Adani mentioned that India has maintained a consistent policy over the past decade, and infrastructure has continued to develop, creating a favorable environment for expanding energy investment, which is crucial for India's sustained growth and resilience.
India Today reported that OPEC has managed oil supply by limiting production for many years to support oil prices, with member countries all limiting production to maintain oil price stability. The UAE's withdrawal from OPEC means it will no longer be subject to these restrictions.
The United Arab Emirates' oil production capacity is approximately 4.85 million barrels per day, and the country now plans to increase production to 5 million barrels per day by 2027.
The main purpose of OPEC's establishment is to coordinate oil production policies among member countries to stabilize global oil prices and ensure stable supply; the United Arab Emirates is one of the largest oil-producing members of OPEC, with its production accounting for about 12% of OPEC's total production. (Editor: Hsieh Yi-hsuan) 1150429
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(Central News Agency reporter Li Jin-wei, New Delhi 29th) The United Arab Emirates announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and its partners, the OPEC+ alliance. Sagar Adani, Executive Director of Adani Green Energy, India's largest renewable energy company, stated today that this might be good news for India, as sufficient energy will help strengthen India's economic resilience.
The United Arab Emirates and Saudi Arabia have long been at odds over oil production policies and competitive regional political influence. Amid a global energy shortage caused by the Middle East war blocking the Strait of Hormuz, the UAE announced its withdrawal from OPEC and the OPEC+ alliance, effective May 1st.
The Economic Times of India pointed out that Sagar Adani, Executive Director of Adani Green Energy, stated today at an event that the UAE's announcement to withdraw from OPEC and OPEC+ might be beneficial for India, as sufficient energy will help strengthen India's economic resilience.
India's Asian News International (ANI) reported that Adani pointed out that India faces the challenge of energy shortages, but its close relationship with the United Arab Emirates may allow India to benefit from this.
Adani believes that factors such as the outbreak of conflicts and the impact of energy shortages on the market will cause a ripple effect on the economy, and in this generation, access to energy will determine the strength of economic resilience.
Adani pointed out that even though India's per capita energy consumption is far below the global average, there is still a need for structural expansion to ensure that energy is affordable and sustainable in the future.
Adani called for reducing dependence on energy imports to maintain long-term economic stability, thus advocating for more diversified energy acquisition methods, such as combining renewable energy with hydropower, thermal power, and nuclear energy, to ensure stable electricity supply.
Adani mentioned that India has maintained a consistent policy over the past decade, and infrastructure has continued to develop, creating a favorable environment for expanding energy investment, which is crucial for India's sustained growth and resilience.
India Today reported that OPEC has managed oil supply by limiting production for many years to support oil prices, with member countries all limiting production to maintain oil price stability. The UAE's withdrawal from OPEC means it will no longer be subject to these restrictions.
The United Arab Emirates' oil production capacity is approximately 4.85 million barrels per day, and the country now plans to increase production to 5 million barrels per day by 2027.
The main purpose of OPEC's establishment is to coordinate oil production policies among member countries to stabilize global oil prices and ensure stable supply; the United Arab Emirates is one of the largest oil-producing members of OPEC, with its production accounting for about 12% of OPEC's total production. (Editor: Hsieh Yi-hsuan) 1150429
Stand with the facts, every sponsorship is a force to protect press freedom.
Download the Central News Agency's "First-hand News" APP to stay updated with the latest news.
Text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.