Trump welcomes UAE’s decision to leave OPEC, says it will lower prices

US President Donald Trump lauded on Wednesday the United Arab Emirates‘ decision to withdraw from OPEC, saying it will ultimately lower consumer prices, particularly on energy.

“It’s great. I know him very well, Mohammed, and very smart, and he probably, maybe wants to go his own way,” Trump told reporters in the Oval Office, likely referring to Emirati President Mohammed bin Zayed Al Nahyan.

“I think ultimately it’s a good thing for getting the price of gas down, getting oil down, getting everything down. They have it all. He’s a great leader, actually. So no, I’m okay,” he added.

The UAE announced Tuesday that it would leave OPEC and the wider OPEC+, marking one of the most significant ruptures inside the oil producer group in years.

The decision comes as global energy markets face severe disruption from the US-Israeli war against Iran, driving crude prices sharply higher and intensifying concerns about the security of supply from the Gulf.

The UAE has been a member of OPEC since 1967.