OPEC+
22 stories related to this topic, newest first.
thehindu.comUAE Energy Official Calls OPEC Exit Sovereign Repositioning
A top UAE energy official stated that the country's decision to leave OPEC and OPEC+ is a sovereign move to reposition in the global energy landscape. The exit is not aimed against any party. Details on post-departure actions were mentioned but not elaborated in available reports…
azernews.azOPEC+ Approves 188,000 Barrels Per Day Oil Production Hike for June Despite Strait of Hormuz Closure
Seven OPEC+ members agreed to increase production by 188,000 barrels per day in June, marking the third consecutive monthly hike amid the ongoing closure of the Strait of Hormuz. Oil prices dipped slightly on Sunday, with Brent crude at $107 per barrel. President Trump announced…
thehindu.comOil Prices Fall Amid Volatility Following U.S. Plan to Extract Ships from Closed Strait of Hormuz
Oil prices declined on Monday following U.S. President Donald Trump's announcement of a plan to free stranded cargo ships in the closed Strait of Hormuz. A tanker was hit by projectiles near Fujairah in the UAE, highlighting regional risks. OPEC+ agreed to a modest output increas…
680news.comU.S. Gas Prices Rise 50% to $4.45 per Gallon
U.S. regular gas prices have climbed to an average of $4.45 per gallon, marking a 49.3% increase since the Iran war started on February 28. Prices rose 35 cents in the past week amid the ongoing closure of the Strait of Hormuz. Efforts to mitigate the spike include releases from…
azernews.azOPEC+ Agrees to Increase Oil Output by 188,000 Barrels Per Day in June
OPEC+ announced an increase in oil production by 188,000 barrels per day for June in its first meeting without the United Arab Emirates. The group, now consisting of seven major producers, adjusted output amid ongoing disruptions from the Iran war. The UAE, the cartel's third-lar…
azernews.azOPEC+ Countries Agree to Boost Oil Output by 188,000 Barrels Per Day in June
Seven OPEC+ nations, including Saudi Arabia and Russia, decided to implement a production increase from prior voluntary cuts amid ongoing market reviews. The adjustment aims to support stability while allowing flexibility based on conditions. The move follows a virtual meeting on…
france24.comOPEC+ Meets on Oil Production Quotas After UAE Withdrawal
Seven OPEC+ members are set to meet on Sunday for their first decision on oil-production quotas since the United Arab Emirates left the cartel. The UAE's departure, as a longtime member, has contributed to soaring oil price pressures amid the Mideast war. Talks this weekend aim t…
247wallst.com**OPEC+ Raises June Oil Output Quota by 188,000 Barrels Per Day**
OPEC+ raised oil production quotas for June by 188,000 barrels per day during an online meeting, involving seven key members but excluding the United Arab Emirates after its recent exit. The decision comes against a backdrop of output shortfalls and disruptions from the Mideast w…
247wallst.comOPEC+ Raises June Oil Output Quotas by 188,000 Barrels per Day; UAE Exits Group
Seven OPEC+ members have reached an agreement in principle to increase oil output quotas for June by about 188,000 barrels per day, ahead of their Sunday meeting. The decision follows the United Arab Emirates' recent withdrawal from the group. Analysts note the move aligns with p…
thehindu.comOPEC+ Increases June Oil Output by 188,000 Barrels Per Day
Seven OPEC+ countries have reached an agreement in principle to increase their oil production quotas for June by approximately 188,000 barrels per day. The decision comes amid ongoing discussions within the group on output levels. Two sources confirmed the development.
thehindu.comOPEC+ Agrees to Raise June Oil Output by 188,000 BPD
Seven OPEC+ countries have reached an agreement in principle to increase oil production quotas for June by approximately 188,000 barrels per day. The decision comes amid ongoing discussions within the group on output levels. Multiple sources confirmed the details of the prelimina…
Al JazeeraOPEC+ Increases June Oil Output by 188,000 Barrels Per Day
OPEC+ agreed to increase oil production targets by 188,000 barrels per day for June in its first meeting without the United Arab Emirates, which departed the group last week. The decision comes amid the ongoing U.S.-Israel war on Iran, which has closed the Strait of Hormuz since…
EuronewsUAE to Leave OPEC on May 1, 2026
The United Arab Emirates announced its withdrawal from OPEC and OPEC+ on April 28, 2026, citing national production goals amid global supply disruptions. The move, effective May 1, follows tensions with quotas and regional rivalries. It could increase oil output, affecting market…
Substrate placeholder — needs reviewOil Prices Rise Amid Ongoing Conflict and Strait of Hormuz Closure
The conflict between the United States, Israel, and Iran has led to the closure of the Strait of Hormuz, causing oil prices to increase significantly. The United Arab Emirates announced its departure from OPEC and OPEC+ effective May 1. Economic forecasts indicate potential impac…
NBC NewsUAE to Exit OPEC and OPEC+ on May 1, 2026, Citing Strategic Energy Goals
The United Arab Emirates will withdraw from OPEC and the OPEC+ group on May 1, 2026, citing its strategic vision and energy investments. The move comes amid the U.S.-Israeli war with Iran, which has disrupted global oil supplies through the Strait of Hormuz. Brent crude traded ab…
Substrate placeholder — needs reviewUnited Arab Emirates Announces Exit from OPEC and OPEC+
The United Arab Emirates stated it is leaving OPEC and OPEC+. This announcement comes amid the ongoing war involving Iran, which has impacted energy markets. The move affects the oil exporting groups and Saudi Arabia.
Substrate placeholder — needs reviewUAE Withdraws from OPEC and OPEC+ on May 1
The United Arab Emirates has decided to leave OPEC and OPEC+ starting May 1 to gain flexibility in oil production. The energy minister described it as a policy change amid the ongoing Strait of Hormuz crisis. The move aims to boost output to 5 million barrels per day by 2027.
Substrate placeholder — needs reviewRussian Officials Address Potential OPEC+ Proposals on Shipping Route Closure
Russian officials stated that Russia continues its oil supplies amid declining oil volumes on the market. This response addresses possible proposals to OPEC+ regarding the closure of a key shipping route. No other initiatives are currently in place, according to the report.
azernews.azOPEC+ Oil Production Declines 20.5% in March per Kpler Assessment
Kpler's secondary source assessment indicates that OPEC+ oil production fell by 20.5% in March compared to February, marking a record decline. This equates to a reduction of approximately 9 million barrels per day. The data comes from secondary sources tracking the group's output…
Substrate placeholder — needs reviewOPEC+ Group of Eight Countries to Increase Oil Production by 206,000 Barrels per Day
Eight OPEC+ countries have agreed to raise their oil production by 206,000 barrels per day. The decision aims to support oil market stability. This adjustment follows ongoing efforts by the group to balance global supply and demand.
azernews.azOPEC+ Core Members Agree in Principle to Increase Oil Production by 206,000 Barrels per Day
A core group of OPEC+ members has reached an agreement in principle to raise oil production levels by approximately 206,000 barrels per day. This decision occurs during their scheduled monthly virtual meeting amid the closure of the Strait of Hormuz. The increase is described as…
thehindu.comOPEC+ Members Plan to Increase Production Quotas for May Amid Middle East Conflicts
OPEC+ members intend to raise their production quotas for May, despite ongoing Middle East conflicts limiting output and shipments from key producers. The decision affects global oil supply dynamics. This move follows previous adjustments to quotas in response to market condition…