The 11-member OPEC depends on oil for a large part of government income. Read more at straitstimes.com. Read more at ...

The United Arab Emirates (UAE) announced on Tuesday that it will leave OPEC and OPEC+ on May 1. It's a meaningful blow to the cartel of oil-producing nations that effectively control the global oil ...

The United Arab Emirates (UAE) says it is pulling out of an international oil-producers' group called OPEC. It comes amid the fuel crisis sparked by the Iran war and subsequent blockades of the major ...

Robust outlook underpinned by policy shifts in the U.S. and Europe, and long-term growth in India, the Middle East, Africa ...

The U.A.E. was the 'most likely' candidate to leave the oil cartel, but experts point to other countries that have reason to follow Kazakhstan has chafed under OPEC quotas. The United Arab Emirates' ...

The United Arab Emirates' plan to ditch the oil producers' group Opec and strike out alone is being viewed as a huge blow for the organisation, with one analyst describing it as "the beginning of the ...

The United Arab Emirates (UAE) shocked the world on Tuesday when it announced that it’d be leaving the world’s largest oil cartel this week. While there’s no immediate impact for the U.S., in the long ...

OPEC plans to hike production by 200,000 barrels per day despite the Strait of Hormuz remaining closed, making it near-impossible to ship any of it.

OPEC officials held talks with Russia and other non-cartel members Saturday in Vienna to debate how to implement a plan aimed at cutting oil output to reduce a global supply glut and bolster prices.

Saudi Arabia and neighbouring Gulf producers will cheer the eventual reopening of the Strait of Hormuz, but the ensuing flood ...