OPEC oil output dropped further in April to the lowest ‌in more than two decades, a Reuters survey found, as the U.S.-Israeli war with Iran effectively closed the Strait of Hormuz and forced export ...

OPEC on Wednesday lowered its forecast for global oil demand growth in 2026, joining other forecasters such as the ...

The decision by the United Arab Emirates to leave the OPEC oil cartel has shaken up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major influence over the price ...

The United Arab Emirates will leave OPEC effective Friday, stripping the oil cartel of its third-largest producer and further ...

OPEC’s stranglehold on the global economy is finally coming apart at the seams — thanks in large part to President Trump’s efforts at home and abroad — and the result will be freer markets, long-term ...

The UAE's exit from OPEC will undermine the cartel's ability to influence the oil market. This is because the UAE is second only to Saudi Arabia when it comes to spare production capacity, a crucial ...

Countries including Qatar, Ecuador and Angola have left OPEC in past years. "While the UAE has left OPEC, they were not the first and may not be the last": Andy Lipow, president of Lipow Oil ...

DUBAI, United Arab Emirates — 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 ...

FRANKFURT, Germany (AP) — The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major ...