OPEC+ agreed Nov. 30 to keep oil production policy unchanged into early 2026 while approving a new capacity-based quota system that will reshape how the group allocates output from 2027 onward. OPEC ...

SINGAPORE: The Organization of the Petroleum Exporting Countries (OPEC) will have one fewer member from Friday (May 1) after the United Arab Emirates (UAE) announced its decision to leave the oil ...

New Delhi: The UAE's exit from Opec may prove significantly beneficial for India, which is looking to secure its energy requirements in the long run following the recent squeeze on supplies amid the ...

The United Arab Emirates on Tuesday said it will exit the oil cartel OPEC and its wider OPEC+ grouping effective May 1, a move long anticipated as the country grew increasingly frustrated with ...

The United Arab Emirates’ decision to leave a global cartel of major oil-exporting countries is seen to reflect a widening fracture within the Gulf Cooperation Council (GCC). The UAE announced on ...

VIENNA, Austria — The decision by the United Arab Emirates (UAE) to leave the Organization of the Petroleum Exporting Countries (Opec) oil cartel shook up the 65-year-old alliance that produces some ...

The United Arab Emirates is leaving OPEC to pump more oil on its own terms. The break strips Saudi Arabia of a key partner and adds to growing uncertainty over the cartel's future. OPEC, the global ...

The United Arab Emirates (UAE) has announced that on May 1, it will leave both the Organization of the Petroleum Exporting Countries (OPEC) and the larger OPEC+ group. By withdrawing, the UAE will now ...

This voice experience is generated by AI. Learn more. This voice experience is generated by AI. Learn more. Oil storage facility in Msaffah industrial district in Abu Dhabi, United Arab Emirates. The ...

- U.S. President Donald Trump urged Iran to "get smart soon" and sign a deal, warning Tehran "couldn't get its act together." The U.S. is reportedly extending its blockade of Iranian ports, squeezing ...

The shock decision by the United Arab Emirates to quit OPEC blindsided its partners. What was behind the decision, where does the cartel go from here and what will the impact be on the oil market?

The United Arab Emirates (UAE) announced Tuesday it would quit membership in the Organization of Petroleum Exporting Countries (OPEC) and OPEC+. It comes after 59 years at the club. But it could be ...