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UAE

Saudi Foreign Minister Faisal bin Farhan al Saud receives United Arab Emirates' Deputy Prime Minister and Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan ahead of an exceptional meeting of the Gulf Cooperation Council (GCC), the first in-person meeting of Gulf leaders since their states became a front in the Iran war two months ago, In Jeddah, Saudi Arabia, April 28, 2026. Saudi Press Agency/Handout via REUTERS
Apr 28, 2026

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

The uae has left opec and opec+, weakening the oil exporting groups amid regional tensions and global energy shocks.

A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq's territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026. REUTERS/Mohammed Aty
Mar 12, 2026

World faces largest-ever oil supply disruption on Middle East war, IEA says

The IEA reports the biggest oil supply disruption in history due to the Middle East war, with global supply dropping 8 million barrels per day in March 2024.

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