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

April 28 (Reuters) - The United Arab Emirates said on Tuesday it was quitting oil-producers' group OPEC, as an unprecedented energy crisis triggered by the Iran war exposes discord among Gulf nations. The loss of the UAE, a longstanding OPEC member, could create disarray and weaken the group, which has ‌usually sought to show a united front... Continue Reading →

April 28, 2026 0

Gulf economies head for worst crisis since pandemic as war roils energy lifeline

April 27 (Reuters) - Gulf Cooperation Council (GCC) economies are sliding into their worst economic crisis since the pandemic, with several expected to contract this year on spillovers from the U.S.-Israel war with Iran right on its doorstep. The war's knock-on effects have ripped through the energy market – the ‌Gulf economies' lifeline – driving... Continue Reading →

April 27, 2026 0

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

Gulf economies head for worst crisis since pandemic as war roils energy lifeline

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