UAE Announces Departure from OPEC Amid Global Oil Crisis in 2026
The United Arab Emirates will exit OPEC and its broader alliance in April 2026, dealing a significant blow to the cartel led by Saudi Arabia. This mov...
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UAE to Exit OPEC and OPEC+ in May 2024, Reshaping Global Oil Dynamics
The United Arab Emirates announced on March 5, 2024, its decision to leave OPEC and the broader OPEC+ alliance effective May 1, 2024. The move, driven...
U.S. Oil Exports Hit Record Amid Strait of Hormuz Crisis—But Growth Faces Hard Limits
U.S. oil and petroleum exports surged to a record 12.9 million barrels per day amid Middle East tensions, but infrastructure constraints and inventory...