Definition
OPEC+ is an alliance between the thirteen member states of the Organization of the Petroleum Exporting Countries (OPEC) and a group of ten non-OPEC oil-producing nations, most notably Russia, Kazakhstan, and Mexico. Formalized through the Declaration of Cooperation in December 2016, the grouping coordinates crude oil production levels to influence global supply volumes and stabilize prices. OPEC+ members collectively account for roughly 40 percent of global oil output and hold the majority of the world’s proven crude reserves. Decisions are reached through ministerial meetings where production ceilings and voluntary cuts are negotiated among participating countries.
UAE Context
The UAE is among the most influential OPEC+ members, with a production capacity of approximately four million barrels per day managed through ADNOC. As the third-largest OPEC producer after Saudi Arabia and Iraq, the UAE wields significant influence in alliance negotiations. In 2021, the UAE pushed for and secured a higher production baseline allocation within OPEC+, reflecting the country’s substantial investments in expanding upstream capacity. The UAE’s OPEC+ strategy balances alliance solidarity with the economic imperative to maximize revenue from its growing production capabilities. Abu Dhabi’s compliance with agreed production quotas has been consistently high, reinforcing its reputation as a reliable alliance partner.
Key Facts
| Attribute | Detail |
|---|---|
| Formation | December 2016 Declaration of Cooperation |
| Total members | 23 countries (13 OPEC plus 10 non-OPEC) |
| UAE production capacity | Approximately 4 million barrels per day |
| Global output share | Roughly 40 percent of world oil production |
| Decision mechanism | Monthly ministerial meetings and periodic summits |
| UAE baseline | Adjusted upward in 2021 to reflect expanded capacity |
| Key non-OPEC partner | Russia |
Vision 2031 Relevance
OPEC+ production management directly shapes the UAE’s fiscal environment and its capacity to fund Vision 2031 programmes. Stable and elevated oil prices provide the government revenue needed to invest in infrastructure, technology, education, and economic diversification. The UAE’s strategy within OPEC+ reflects a dual imperative at the heart of Vision 2031: maximize near-term hydrocarbon income while investing proceeds into building a resilient, diversified economy that can sustain prosperity beyond the oil era. The alliance also gives the UAE geopolitical influence in global energy governance, reinforcing its position as a responsible and strategically significant energy power.