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OPEC
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2 days ago
Seven members of OPEC+, which groups OPEC and allied producers including Russia, increased output quotas from April to June by almost 600,000 barrels per day.
5 days ago
Saudi energy minister calls for ‘stable energy sector’ during Russia visit ⊕
Prince Abdulaziz bin Salman and other top OPEC officials visit the St Petersburg International Economic Forum.
14 days ago
Why the UAE walked away from OPEC ⊖
The United Arab Emirates’ decision to leave OPEC after nearly 60 years marks a major shift in the global oil order. Officially framed as an economic decision, the move reflects Abu Dhabi’s frustratio…
24 days ago
UAE says its decision to leave OPEC was a strategic economic move, not a political one ⊕
The United Arab Emirates, which joined OPEC in 1967, announced last month it was leaving the oil producer group on May 1.
27 days ago
Oil struggles for direction as IEA flags greater volatility ahead, OPEC cuts demand forecast ⊖
OPEC cut its demand growth estimates for 2026 to about 1.2 million barrels per day.
OPEC sees slower demand growth this year as production falls more than 30% on Hormuz closure ⊕
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Global demand is facing constraints because supply from the Persian Gulf has been effectively cut off by Iran's blockade of the Strait of the Hormuz.
33 days ago
Are global alliances fracturing? ○
From NATO to OPEC, global alliances seem strained like never before.
39 days ago
UAE exit from OPEC signals closer alignment with US interests, experts say ⊕
UAE wants to supply more oil than its OPEC quota and that could help push down prices once the Strait of Hormuz opens.
40 days ago
UAE exit signals OPEC’s declining grip on oil markets ⊕
Chris Weafer says the UAE's OPEC exit leaves the organisation less influential on global oil pricing.
Will the Iran war reshape the global energy order? ⊖
As oil markets shift, OPEC's grip is under pressure, US exports rise, and China drives the push towards renewables.