The United Arab Emirates has announced it will withdraw from OPEC and the wider OPEC+ alliance – which includes countries such as Russia – effective May 1, marking the end of more than sixty years of participation. The move signals a strategic realignment amid shifting geopolitical tensions in the Middle East.
In the medium term, the decision could prove beneficial for Italy’s economy. Freed from production constraints, Abu Dhabi may increase output by up to 700,000–900,000 barrels per day, introducing greater competition into global oil markets and weakening OPEC’s ability to sustain high prices.
For a country like Italy, which relies heavily on energy imports, this could translate into lower costs. Even a modest drop in crude oil prices – estimated at $5 to $10 per barrel – could generate annual savings of between €5 billion and €7 billion through reduced import expenses, lower energy bills, and decreased production costs for businesses.
News Source: 9Colonne
