Articles tagged with "OPEC"

4 articles found

UAE oil giant ADNOC pledges $55B in new projects by 2028: Statement

The move to ditch OPEC and the expanded OPEC+ group will allow the UAE to produce as much or as little crude as at wishes after decades of following a quota system instituted by the group, potentially providing a windfall of cash to the country.

May 3, 2026

UAE exits OPEC, signaling a new era for oil politics

UAE’s OPEC exit ends a 58-year membership and challenges the group’s unity, founded in 1960 to counter Western oil giants, OPEC later expanded into OPEC+ but now faces weaker control over supply and prices.

April 29, 2026

UAE to withdraw from OPEC, OPEC+: statement

The UAE announced it will leave OPEC and OPEC+, citing national interests and long-term strategy, as Gulf oil shipments face disruption from Iran’s blockade of the Strait of Hormuz.

April 28, 2026

TOKYO: A man walks past an electronic quotation board displaying numbers of the Nikkei Stock Average (R) on the Tokyo Stock Exchange in Tokyo on January 13, 2026. (File Photo by AFP/Kazuhiro Nogi)

OPEC+ expected to raise production levels in major strategic shift

OPEC+ is likely to raise output in October, with Saudi Arabia, Russia, and others weighing a shift from earlier cuts; oil fell as US inventories rose ahead of Sunday's meeting.

September 7, 2025