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(Reuters) – The United Arab Emirates’ withdrawal from OPEC is widely seen as lessening the clout of the producer group and initiating a race to boost output, ultimately resulting in sharply lower crude oil prices. However, the U.S. and Israeli war against Iran has upended global crude markets to such an extent that expecting what …
The UAE Dumping OPEC May Not Affect Crude as Anticipated: Russell Read More »
By Vladimir Soldatkin and Anton Kolodyazhnyy Russia’s Novak: oil industry is facing its deepest crisis Novak: hard to talk about a price war amid market shortages Novak: Russia will stay in OPEC+, committed to its mechanism Novak: it may take several months for oil market to recover MOSCOW, April 30 (Reuters) – Russia’s Deputy Prime …
Russia Says OPEC+ Will Continue After UAE Exit, No Price War Expected Read More »
(Reuters) – U.S. President Donald Trump on Wednesday welcomed the United Arab Emirates’ move to pull out of OPEC and said he thinks the move could help lower oil prices. “I think it’s great,” Trump said when asked by reporters at the White House what he thought of the UAE’s decision. The UAE – one …
Trump Welcomes United Arab Emirates Exit From OPEC Read More »
(Reuters) – The United Arab Emirates’ decision to quit OPEC would result in faster oil supply growth from the country as it comes out of the current crisis, Barclays said late Tuesday. The UAE, the fourth-largest producer in the Organization of the Petroleum Exporting Countries, said on Tuesday it would exit the group on May …
Barclays Sees Faster Oil Supply Growth From UAE After its Exit From OPEC Read More »
(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 »
