The UAE's departure from OPEC on May 1 coincided with a Strait of Hormuz disruption that reframed how the industry evaluates ...

After the UAE's exit, Iraq has become the latest OPEC member to challenge the oil cartel's production quotas. Iraq, the ...

Iraq's oil exports have been sharply curtailed by the Middle East war, increasing pressure on Baghdad to seek more room to ...

OPEC said Monday its crude oil production plunged by 7.89M bbl/day, or 27%, in March to 20.79M barrels due to the near-shutdown of the Strait of Hormuz. "Disruptions to shipping operations in the ...

China reduced crude imports during the Iran war. Analysts estimate that imports fell by nearly 3 million barrels per day ...

The move is widely seen as symbolic as the war in the Middle East has choked off a critical waterway through which a fifth of ...

Asharq Al Awsat Baghdad has urged OPEC to increase Iraq's oil production quota, taking into account the damage done to its industry by its history of conflicts and the recent regional war, its oil ...

US president has accused organisation of ‘ripping off the rest of the world’ by inflating oil prices The United Arab Emirates has quit the Opec oil cartel after 60 years of membership, in a heavy blow ...

LONDON, April 13 (Reuters) - OPEC on Monday lowered ⁠its ⁠forecast for world oil demand ⁠in the second quarter by 500,000 barrels per day, the producer group's monthly oil report showed in its first ...

Oil production in the Middle East dropped by over a quarter in March, as the Iran war continues to destabilize the world’s energy supply. The bleak outlook for the global energy market comes after the ...

The United Arab Emirates has decided to leave the Opec group of oil producers after six decades of membership amid an energy supply shock in the Middle East spurred by the US-Israeli war with Iran.