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Opec News

Trump teases ‘massive’ oil deals with Iraq during visit from PM

US President Donald Trump shakes hands with Iraqi Prime Minister Ali al-Zaidi during a meeting at the White House.

Published 19 days ago

UAE-OPEC break and Iran’s leadership vacuum

OPEC

Published 69 days ago

In West Asia, making of a post-OPEC order

A cartel has cracked. An order is being rewritten. The capitals doing the rewriting are few, the importers paying for the outcome are many. (AP)

Published 91 days ago

Making sense of UAE’s exit from OPEC

The headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria

Published 93 days ago

The UAE doubles down on Israel and America

The headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria

Published 93 days ago

The UAE’s departure from OPEC may not break the cartel

FILE - A boat sails past a tanker anchored on the Strait of Hormuz off the coast Qeshm island, Iran, April 18, 2026.

Published 95 days ago

UAE's exit from OPEC will increase production, bring down oil prices: Russia

Russian Finance Minister Anton Siluanov's comments marked Russia's first reaction to the surprise UAE exit.

Published 95 days ago

UAE's OPEC exit: Breaking ranks with the GCC, charting its own course

As OPEC's third-largest producer, the UAE's departure has considerably weakened the cartel, and freed Abu Dhabi from serving as its shock absorber for mandated oil cuts.

Updated 96 days ago

What is OPEC, OPEC+ and why the UAE no longer want to be a part of it

The UAE announced on Tuesday it will exit OPEC and OPEC+ effective May 1, 2026.

Published 96 days ago

UAE leaves oil production groups OPEC, OPEC+: Here's what you need to know

The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels on May 1, 2026 state media said on April 28, 2026, calling it a strategic decision by the major producer.

Updated 96 days ago

UAE leaves OPEC and OPEC+ in huge blow to global oil producers' group

An Emirati man stands at the oil terminal of Fujairah during the inauguration ceremony of a dock for supertankers on September 21, 2016. The United Arab Emirates will withdraw from the OPEC and OPEC+ oil cartels on May 1, 2026 state media said on April 28, 2026, calling it a strategic decision by the major producer.

Updated 96 days ago

United Arab Emirates says it will leave OPEC effective May 1

Updated 96 days ago

A petrodollar smoking gun in the war on Iran

The global economy runs on oil, and for five decades, this has overwhelmingly been run on the US dollar. (Bloomberg)

Published 143 days ago

Trump’s Risky Fixation With Other Countries’ Oil

President Donald Trump speaking at his Mar-a-Lago residence in December.

Updated 206 days ago

UAE vows to pull remaining forces from Yemen in crisis with Saudi Arabia

UAE vows to pull remaining forces from Yemen in crisis with Saudi Arabia

Updated 215 days ago

Wall Street: US stocks head low, crude oil rises after OPEC's production hike

After closing out its best month since 2023, Wall Street was poised to open with losses on Monday as the Russia-Ukraine conflict escalated over the weekend

Published 426 days ago

Trump says Saudi Arabia's one move would end Russia-Ukraine war ‘immediately'

US President Donald Trump is seen on a large screen during his address by video conference at the World Economic Forum (WEF) annual meeting in Davos.

Updated 556 days ago

Saudi Arabia cuts oil prices for Asia amid weak demand: Report

An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia.

Published 602 days ago

Why oil prices are not rising despite the war in West Asia

Petrol. (Representational image)

Published 605 days ago

‘India did world a favour by buying Russian oil because…’: Minister Hardeep Puri

Union minister of petroleum and natural gas Hardeep Singh Puri.

Updated 633 days ago

Dollar dips as polls show Harris-Trump race on knife’s edge

This combination of file photos shows Republican presidential nominee former President Donald Trump, left, speaking at a campaign rally, Oct. 18, 2024, in Detroit, and Democratic presidential nominee Vice President Kamala Harris, right, speaking at a campaign rally in Green Bay, Wis., Oct. 17, 2024. (AP Photo)

Published 637 days ago

Oil prices fall 3% as concerns ease on potential Iran supply disruption

Brent crude and West Texas Intermediate futures fell 3% as Israel's non-targeting of Iranian oil eased supply fears. OPEC's lowered demand growth forecasts for 2024 and 2025 contributed to this decline, alongside reduced crude shipments to China and deflationary pressures.

Published 657 days ago

Oil prices at 3-week low as prospect of additional supply offset Mideast fears

Smoke billows near a village in southern Lebanon after an Israeli air strike, amid cross-border hostilities between Hezbollah and Israel, as seen from northern Israel.

Published 670 days ago

Petrol, diesel prices to be cut soon? What Oil Secretary said on likely decision

Oil Secretary Pankaj Jain indicated that petrol and diesel prices could be lowered if global crude rates stay low. With Brent crude recently dropping below $70 per barrel, state-run fuel companies are considering reducing prices to align with favorable market conditions.

Updated 689 days ago

OPEC still sees strengthening oil demand in emerging markets, plans supply hike

Representational

Published 782 days ago

Morning brief: Saudi, Russia plan to cut oil production. Will it impact India?

People walk by an oil refinery operated by Bharat Petroleum Corp. Ltd., in Mumbai, India.

Published 1209 days ago

Saudi's plan to cut oil production will put burden on India: Energy body

IEA director Fatih Birol

Updated 1209 days ago

How markets behaved in India over 2022-23

The Bombay Stock Exchange in Mumbai. (Bloomberg Photo)

Updated 1213 days ago

Oil markets going through 'great fluctuations': OPEC secretary general

Oil markets are going through a stage of great fluctuations, OPEC secretary general Haitham Al Ghais said.

Published 1386 days ago

US says Saudi forced OPEC nations into oil cut amid escalating war of words

The United States presented Saudi Arabia with an analysis showing there was no market basis to lower oil production before the OPEC decision to cut output.

Published 1389 days ago

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