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(Reuters) – The United Arab Emirates is reassessing its role and contributions across multilateral organisations but is not considering any further withdrawals at this time, a UAE official told Reuters on Wednesday, a day after Abu Dhabi announced its withdrawal from OPEC. The Emirati official, who spoke on the condition of anonymity, said the country is reviewing …
(Reuters) – 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 …
PERSPECTIVE: UAE Exit Strips OPEC of Clout, Risks Bitter Price War: Bousso Read More »
The United Arab Emirates’ planned exit from OPEC and the wider OPEC+ alliance from May 2026 is expected to have limited immediate impact on oil markets but could weaken the group’s supply discipline and price-management ability over time, HSBC said in a research note on Tuesday. The UAE, one of OPEC’s largest producers, said on …
HSBC Sees Limited Near-Term Impact on OPEC+ From UAE’s Departure Read More »
(Reuters) – 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 …
UAE Exit Strips OPEC of Clout, Risks Bitter Price War: Bousso Read More »
The U.S. has stepped in to shield the global economy from the oil crunch triggered by the Iran war by boosting exports, selectively easing sanctions and tapping strategic reserves. The conflict may be denting Washington’s standing in some quarters, but it is also cementing its transformation into the world’s dominant energy superpower. Unlike in previous …
Iran War Hands OPEC’s Swing Producer Crown to America: Bousso Read More »
(Reuters) – OPEC on Monday lowered its forecast for world oil demand in the second quarter by 500,000 barrels per day, citing the impact of the war in the Middle East, the producer group’s monthly oil report showed on its website. Global oil demand is projected to average 105.07 million bpd in the second quarter, …
OPEC Lowers Second-Quarter Global Oil Demand Forecast on Iran War Read More »
(Reuters) – OPEC+ is likely to weigh a further oil output increase when eight members meet on Sunday, two OPEC+ sources said, a move that would position key producers to add more barrels should the Strait of Hormuz – the world’s most important oil route, currently shut by the U.S.-Israeli war with Iran – reopen. …
OPEC+ Likely to Weigh Further Oil Output Hike on Sunday, Sources Say Read More »
By Alex Lawler Saudi Arabia increased production as contingency for Iran attack disruption, sources said OPEC says geopolitical developments need close monitoring, no forecast changes yet IEA to update oil forecasts on Thursday LONDON, March 11 (Reuters) – OPEC said on Wednesday that Saudi Arabia sharply increased oil production in February ahead of U.S. and …
OPEC Confirms Big Saudi Oil Production Hike Ahead of Iran War, Holds Forecasts Steady Read More »
(Reuters) – Saudi oil giant Aramco has begun cutting output at two of its oilfields, two sources said on Monday, after the vital Strait of Hormuz was choked by the U.S.-Israeli war on Iran and subsequent attacks on the waterway. It was not immediately clear at which fields and by how much production was being …
Saudi Aramco Reducing Output at Two Oilfields, Two Sources Say Read More »
Saudi Arabia produces about 10 million barrels a day of crude, with exports rising to about 7.2 million a day last month By Serene Cheong, Yongchang Chin, Salma El Wardany and Rakesh Sharma Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port on the Red Sea that’s situated outside the …
Aramco Explores Oil Exports Via Red Sea to Avoid Hormuz Read More »
