When the United Arab Emirates announced last week that it would withdraw from OPEC, the move reverberated beyond global oil markets. It was the latest sign that the Emirates’ once close partnership with another Persian Gulf powerhouse, Saudi Arabia, had fractured into open rivalry. Saudi Arabia has historically been the dominant voice within OPEC —…
Oil prices jumped Monday after Iran attacked the United Arab Emirates, jeopardizing a fragile ceasefire agreement between Tehran and Washington. International benchmark Brent crude futures rose nearly 6% to close at $114.44 per barrel. U.S. West Texas Intermediate futures advanced more than 4% to settle at $106.42 per barrel. The UAE’s Defense Ministry said in a social media post…
Quotable Chris Weafer, the CEO of Micro-Advisory Partners, says the UAE’s OPEC exit frees one million barrels of spare capacity. He warns Kazakhstan and Venezuela may follow, leaving OPEC far less influential on global oil pricing. Published On 30 Apr 202630 Apr 2026 Click here to share on social media share-nodes Share googleAdd Al Jazeera…
Opec appears to be the latest casualty of the Iran war. On Tuesday, the United Arab Emirates announced that it was leaving the oil cartel after 60 years. The loss of a critical member is a blow to the group and its de facto leader, Saudi Arabia, in the midst of the biggest supply crisis in history….
After decades of membership, the United Arab Emirates has decided to quit the oil producers’ group, OPEC, in order to focus on “national interests” and forge its own path, it has said. The move is seen as a major blow to the Vienna-based oil cartel – but will not spell the end of it altogether,…
The United Arab Emirates (UAE) has announced it is quitting Opec, the Organisation of Petroleum Exporting Countries, after nearly 60 years of membership. Opec is an organisation of mainly Gulf oil exporters, which oversees oil production and has a major influence on the global prices. The UAE’s abrupt departure is seen as a blow to…
The Gulf state is the latest to quit the group, which was created to form a united front on oil pricing. The United Arab Emirates has announced its withdrawal from OPEC and the wider OPEC+ framework, removing a core pillar of one of the most influential groups in the energy world. The Gulf country, with…
The United Arab Emirates dealt a major blow to some of the world’s biggest oil producers on Tuesday when it announced that it was leaving the OPEC oil cartel that has for decades sought to control global prices and fuel supplies. A coalition of around a dozen oil exporters, OPEC has steered prices by setting…
Shorouk Express BAKU, Azerbaijan, August 5. Azerbaijan is considering the establishment of a joint research and development center in the field of artificial intelligence with the UAE, the Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev wrote on his X page, Trend reports. “We held a meeting with the UAE Minister of Industry and…
Shorouk Express U.S. Secretary of State Marco Rubio arrived in Saudi Arabia on Monday, while Ukrainian President Volodymyr Zelenskyy traveled to the United Arab Emirates (UAE) late Sunday, both against the backdrop of expected peace talks on ending Russia’s war against Ukraine. Rubio is in Riyadh together with U.S. President Donald Trump’s National Security Adviser…
