Tag: uae leaves opec

OPEC+ agrees in principle on small oil output quota hike without UAE, sources say

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OPEC+ agrees in principle on small oil output quota hike without UAE, sources say

The increase ⁠is similar to last month’s hike of 206,000 bpd minus the ​share of ‌the United Arab Emirates. OPEC logo for representation | Photo Credit: Reuters Seven OPEC+ countries have an agreement ​in principle to raise oil ‌output targets by about 188,000 ​barrels per day ⁠in June, pressing on with plans despite the departure…

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UAE leaves OPEC and OPEC+ in huge blow to global oil producers’ group

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UAE leaves OPEC and OPEC+ in huge blow to global oil producers’ group

Image used for representational purposes. File | Photo Credit: Reuters The United Arab Emirates said on Tuesday (April 28, 2026) it quit Organisation of the Petroleum Exporting Countries (OPEC) and OPEC+, dealing a ​heavy blow to the oil exporting groups and their de ‌facto leader, Saudi Arabia, at a time when ​the Iran war has…

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