UAE

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

Upper Zakum is a grade that can produce a higher amount of diesel and jet fuel when processed, and is typically loaded from a port at Zirku Island in UAE.

Asian buyers offer big premium for diesel-rich crude from UAE

May-loading shipments have attracted a premium to official selling prices, which are set significantly higher than April

The United Arab Emirates has dealt a severe blow to Opec with its plans to quit the oil cartel.
COMMENTARY

UAE’s Opec exit: Shockwaves will be felt beyond oil prices

Cartel crack-up reflects growing friction and regional rivalry between the Saudis and the Emiratis

With the UAE leaving, Opec+ includes 21 members, including Iran, but in recent years, only the seven nations plus the UAE have been involved in monthly production decisions.

Opec+ likely to agree another oil output hike without UAE: sources

The increase is similar to last month’s hike of 206,000 bpd

Opec’s power has been eroded in recent years as new production flooded the market, particularly from US shale.

UAE exit blindsides Opec and threatens to shake its grip on oil

The departure of one of the group’s most influential members will still raise wider questions

The UAE will will withdraw from the Opec and Opec+ alliances on May 1.

UAE to leave Opec and Opec+ in major blow to global oil producers’ group amid Iran conflict

Move comes after the UAE criticises fellow Arab states for not doing enough to protect it from numerous Iranian attacks during the war

The number of residential transactions dropped to about 13,000 in March, from nearly 16,000 the previous month. 

Dubai home prices drop for first time since post-pandemic boom

Fall in March is an indication of the Iran war’s immediate impact on real estate in the city

China's President Xi Jinping attends a meeting with Abu Dhabi Crown Prince Sheikh Khaled bin Mohammed in Beijing on Apr 14.

President Xi vows China’s constructive role in first remarks on Iran War

[BEIJING] Chinese President Xi Jinping said China would continue to play a constructive role in the Middle East by promoting peace and dialogue, his first public statement on the conflict since the US...

About a fifth of global oil and liquefied gas supplies normally pass through it each day, but Iran’s actions have severely curtailed traffic, triggering a global energy crisis.

Access through Hormuz strait must be guaranteed in any US-Iran settlement, says UAE

The UAE has come under heavier Iranian strikes than any other Gulf state, according to regional officials

The restrictions come amid heightened tensions between Iran and Gulf states, including United Arab Emirates.

Emirates says Iranian nationals barred from entering or transiting UAE

DUBAI-BASED airline Emirates’ website said on Wednesday that Iranian nationals were not allowed to enter or transit the United Arab Emirates. The website of another carrier, Flydubai, said Iranian nat...