Loss of Emirates Further Weakens OPEC’s Influence

The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.

By Ivan Penn and Rebecca F. Elliott

Why the U.A.E. Broke Up With OPEC - WSJ

Why the U.A.E. Broke Up With OPEC  WSJ

Will UAE's departure from OPEC affect the oil cartel's future influence?

What are the impacts of the UAE's decision to pull out of the OPEC oil cartel? NPR's A Martinez speaks with Helima Croft, global head of commodity strategy at RBC Capital Markets.

By A Martínez

UAE quits Opec in major blow to oil cartel - The Times

UAE quits Opec in major blow to oil cartel  The Times

CNBC Daily Open: UAE leaves OPEC adrift

Markets grapple with the UAE's shock OPEC exit, while also contending with a host of earnings reports and a Fed decision later today.

United Arab Emirates will leave OPEC in a blow to the oil cartel

The United Arab Emirates said Tuesday it will leave OPEC effective May 1, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices. The UAE's decision had been rumored as a possibility for some time, as it pushed back in recent years against OPEC production quotas it felt had been too low — meaning it wasn't able to sell as much oil to the world as it had wanted.

By FRANCE24

In exiting OPEC, UAE has prioritised changing realities over cartel loyalty

Why has the UAE left Opec and what impact will its departure have?

The United Arab Emirates said on Tuesday that it was quitting Opec, dealing a heavy blow to the oil-exporting cartel and its de facto leader, Saudi Arabia, at a time when the Iran war has caused a historic energy shock and rattled the global economy. But what is Opec, and how does it impact consumers? What is Opec? Founded in 1960, the Organisation of the Petroleum Exporting Countries (Opec) is a bloc of oil-exporting nations that coordinate their oil and gas policies as a means of managing t...

By none@none.com (ReutersNews Desk)

UAE Quits OPEC: What It Means For India's Oil Prices, Fuel Bills

Being able to deal with the UAE as a separate seller should give Indian refineries the chance to re-adjust risk levels and pricing, particularly if some volume of crude is routed via overland pipelines to bypass the Hormuz blockade.

Korea's Presidential Security Service trains UAE presidential guards

South Korea’s Presidential Security Service has trained presidential guards from the United Arab Emirates in Seoul, underscoring the two countries’ expanding security cooperation, the agency said Wednesday. The four-week program for 10 members of the UAE Presidential Guard Command was held from March 30 to April 24 at the PSS’ Security Safety Training Institute in Gangseo-gu, western Seoul. The UAE Presidential Guard is an elite special operations unit within the UAE Armed Forces. The program wa

By The Korea Herald

UAE quits OPEC, raising risk of post-war oil price war

The United Arab Emirates’ decision to leave OPEC will sharply diminish the 65-year-old producer group’s influence over the oil market, opening the door to an all‑out price war once Gulf producers rush to regain market share when the Iran war is over. The surprise move comes at a time of unprecedented turmoil in energy markets […]

Russia says UAE’s exit from OPEC will increase global production, bring down oil prices in future

Russian Finance Minister Anton Siluanov said on Wednesday that the decision by the United Arab Emirates to leave OPEC will mean the oil-producing countries will boost production, bringing down global prices in the future. Russia is a member of the OPEC+ group of countries and has been coordinating its policies with OPEC members. Russia is […]

By newsroom

Gold slightly recovers to Dh3 as UAE leaves Opec, Opec+ - Khaleej Times

Gold slightly recovers to Dh3 as UAE leaves Opec, Opec+  Khaleej Times

UAE decision to depart OPEC shakes up decades-old oil alliance

The decision by the United Arab Emirates (UAE) to exit the Organization of the Petroleum Exporting Countries (OPEC) oil cartel shook up the 65-year-old alliance that is responsible...

Reports claim UAE plans to leave OPEC and OPEC+ - UzDaily.uz

Reports claim UAE plans to leave OPEC and OPEC+  UzDaily.uz