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Opec

Iran slams UAE’s "vengeful" OPEC exit amid rising regional tension

Iran has criticised the United Arab Emirates over its decision to leave OPEC, warning that politically motivated exits from the oil alliance are “not constructive,” while reaffirming its own commitment to the group.

04 May 2026-14:05
OPEC+ backs modest oil output hike despite UAE exit

02 May 2026-16:24
OPEC Fund announces $1.5B support package

29 Apr 2026-16:16
UAE leaves OPEC: What comes next for the global oil market?

The World Bank expects commodity prices to rise to levels last seen in 2022, affecting not only oil and gas but also other raw materials, according to Bloomberg. Their global prices could increase by an average of 16 percent due to the war in Iran and related disruptions to supplies of oil, metals and fertilisers, World Bank experts say. As for energy commodities, the World Bank forecasts a 24 percent rise in prices. Brent crude, for example, is now expected to average $86 per barrel, up from the previous forecast of $60.

29 Apr 2026-15:52
Asian stocks rise as oil falls on UAE's OPEC exit

Stocks across Asia mostly advanced on Wednesday despite losses on Wall Street, while oil prices declined after the United Arab Emirates announced plans to leave OPEC, dealing a blow to the influential oil group.

29 Apr 2026-09:36
UAE leaves OPEC and OPEC+

The United Arab Emirates said on Tuesday it quit OPEC and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran ‌war has caused a historic energy shock and unsettled the global economy.

28 Apr 2026-16:29
Oil crisis? What oil crisis?

Contrary to dire warnings from market analysts, the global energy sector is proving remarkably resilient despite ongoing geopolitical tensions.

22 Apr 2026-12:35
OPEC cuts Q2 global oil demand forecast amid Iran conflict

On Monday, OPEC revised its forecast for global oil demand in the second quarter, cutting it by 500,000 barrels per day, according to the group's monthly oil report. This was the first public assessment of the war in Iran’s impact on the market.

13 Apr 2026-18:59
OPEC+ agrees to raise oil output amid Mideast tensions

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, announced on Sunday that they will raise oil production by 206,000 barrels per day in May, according to an official statement.

06 Apr 2026-11:06
China buys Venezuelan oil from U.S.

China has reportedly purchased Venezuelan oil that was previously acquired by the United States.

12 Feb 2026-17:17

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