Opec

UAE left Opec to pump more as end of oil era looms, presidential adviser says

The decision can have a major impact on the organisation’s control over supplies when oil flows normalise

Brent traded near US$107 a barrel on Thursday, after sliding 5.6 per cent in the previous session.

Oil hits session high on report Iran wants to keep its uranium

The Strait of Hormuz closure was the market’s most severe supply disruption on record

Brent crude futures were up 98 cents, or 0.9 per cent, to US$106.61 a barrel at 0916 GMT on Thursday.

Oil edges up as investors focus on Trump-Xi meeting in Beijing

Iran appears to have tightened its control over the Strait of Hormuz

Global oil demand is expected to average 104.57 million barrels per day in the second quarter, down from the 105.07 million bpd forecast last month, Opec said.

Opec cuts 2026 global oil demand growth forecast

The war has effectively closed the Strait of Hormuz, a key global oil route

Brent crude futures were down 30 cents, or 0.3 per cent, to US$107.47 a barrel at 1220 GMT on Wednesday.

Oil little changed as Trump visits China

The International Energy Agency said global oil supply would not meet total demand this year

Brent crude futures gained US$3.47, or 3.3 per cent, to US$107.68 a barrel by 1045 GMT on Tuesday.

Oil prices jump on latest US-Iran peace process impasse

[LONDON] Oil prices rose by more than 3 per cent on Tuesday as stark differences between the US and Iran on a proposal to end the war in the Middle East pushed supply concerns back into the spotlight.

The UAE today is not a pure petrostate. Thus, while high oil prices will boost the country's oil revenue, they also hurt the global economy that drives the rest of the Emirati portfolio.
THE BOTTOM LINE

Why the United Arab Emirates walked away from Opec

The economic logic of the decision is just as important as the political one

US West Texas Intermediate was up 47 cents, or 0.5 per cent, at US$102.41 a barrel, after rising to as high as US$107.46 earlier on Monday.

Oil pares gains after US says two vessels crossed Strait of Hormuz

[LONDON] Oil prices pared earlier gains on Monday after the US military said two US Navy guided-missile destroyers had entered the Gulf to break an Iranian blockade and that two US ships had transited...

The UAE's Adnoc plans to accelerate a growth plan involving 200 billion dirham in project awards spanning upstream and downstream operations.

Opec+ agrees on symbolic quota hike as UAE touts oil investment

But the actual increase depends on the Strait of Hormuz reopening and shuttered production being restored

Oil prices have been on the rise since the end of February when the US and Israel attacked Iran

Oil prices rise with no sign of an end to Iran war

Trump was scheduled to receive a briefing on Apr 30 on plans for a series of fresh military strikes on Iran