The Organization of the Petroleum Exporting Countries (OPEC) is facing one of its biggest crises in 65 years, with officials holding an emergency meeting at its Vienna headquarters. The group is grappling with multiple challenges, including a global energy crisis and the United Arab Emirates’ announcement to leave the organization after years of membership, raising questions about OPEC’s future stability.

The main focus of Wednesday’s meeting was OPEC’s 61st annual report, which detailed global oil import, export, and reserve data. According to the report, global oil demand, reserves, and exports all increased in 2025 compared to 2024, with Asia, Latin America, and the Middle East receiving the largest shares of exports. However, the data reflects conditions before the UAE’s withdrawal decision, which is expected to significantly affect next year’s report.

OPEC officials declined to comment on the UAE’s move or the internal situation, further highlighting the uncertainty surrounding the organization’s cohesion and direction.