'Now, more room to fuel industries' needs'

Minister says Opec exit gives country freedom to produce what is needed for growth

- BY NIVETHA DAYANAND

The UAE's exit from Opec and Opec+ gives the country greater freedom to produce what its industries require, while allowing it to plan more directly around domestic manufacturing needs and global market demand, Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, said at the Make it in the Emirates summit in Abu Dhabi.

The comments mark one of the clearest public explanations yet of how the UAE sees its post-Opec role, with the Minister linking the decision to greater production flexibility, stronger industrial planning and the need to support partners that have invested in the country. "This is a sovereign decision that was taken after very carefully [looking] at our whole strategy, including Made in the Emirates," he said.

More flexibility

The Minister said the UAE's exit gives it "a sense of freedom" to produce what its industries require without being bound by a producer group, while continuing to work with other countries when market conditions call for coordination.