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The Latest Breaking News from OPEC

The Iran war has brought many old Gulf faultlines to the fore – and is creating new ones

The United Arab Emirates (UAE) announced on April 28 that it will leave the global oil producers’ cartel Opec. Its decision is the latest sign that the war in the Middle East has not only deepened animosities between Iran and its Gulf neighbours, but among the Gulf states too.

The Conversation

Current price of oil as of May 1, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

The UAE’s OPEC exit signals strategic shift as Gulf unity faces new test over oil policy

The UAE's exit from OPEC signals a strategic shift, raising questions about Gulf coordination and the organisation's future.

Euronews

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War in the Gulf and on US free speech

Brent crude oil surged to US$126 (£94) a barrel after US president Donald Trump announced that he was willing to prolong the blockade of Iranian ports for “months if needed”. This conflict has been billed as a matter of who can absorb the most pain. And Trump is betting on…

The Conversation

Crude Oil Prices Retreat on Signs of Weaker Global Energy Demand

June WTI crude oil (CLM26 ) on Thursday closed down -1.81 (-1.69%), and June RBOB gasoline (RBM26 ) closed up +0.0228 (+0.63%). Crude oil and gasoline prices settled mixed on Thursday, with gasoline soaring to a 3.75-year high. Crude oil gave up an early advance and fell sharply on Thursday...

Barchart

The week that was in international affairs: UAE to exit Opec; Ukraine makes Russia jittery

UAE exits Opec, impacting global oil dynamics amid regional tensions. Ukraine escalates attacks on Russia, forcing Moscow to scale back Victory Day parades. King Charles' US trip strengthens UK-US ties. Syria begins its first transitional justice trial. China pressures African nations, forcing Taiwan's President to cancel a trip.

The Times of India

Signs of Weaker Energy Demand Fuel Long Liquidation in Crude Prices

June WTI crude oil (CLM26 ) today is down -2.01 (-1.88%), and June RBOB gasoline (RBM26 ) is down -0.0104 (-0.29%). Crude oil and gasoline prices gave up early gains today and fell sharply on concerns that higher energy prices are starting to curb demand and global economic growth. Long...

Barchart

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Stock Market Today: Oil Prices Spike as Trump Orders 'Extended Blockade' of Iran and Rejects Nuclear Deal

Oil prices have surged due to US-Iran tensions and the UAE's exit from OPEC, impacting global markets. Analysts predict prolonged volatility as geopolitical factors continue to influence oil flows.

International Business Times UK

Could the UAE’s shock exit from Opec cause an oil price war?

A standoff between Gulf oil giants Saudi Arabia and the UAE could cause greater market volatility for years to come

The Guardian - UK

Current price of oil as of April 30, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Following UAE’s OPEC Exit Shock, Diamondback Energy Could Be the Smartest Bet Now

The UAE’s decision to exit OPEC/OPEC+ has injected new uncertainty into oil markets and pushed crude prices above $100 per barrel. Low-cost Permian operator Diamondback Energy may be positioned as one of the clearest near-term beneficiaries.

Barchart

10 Photos of Nicole Kidman as Fans Spot Shocking Detail on Her Hand at Chanel Cruise

Nicole Kidman's Chanel Cruise appearance in France goes viral after fans notice a mystery detail on her hand, sparking online speculation

International Business Times UK

Oil temporarily hits $126 wartime high as US–Iran standoff fuels supply fears

Oil markets face upward pressure on Thursday, with Brent crude briefly touching $126 as markets price in tensions in the negotiations between the US and Iran.

Euronews

What is OPEC and how does it shape global oil markets?

Oil is once again making headlines.

The Conversation

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news in one place.

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Euronews

What could the UAE’s exit from OPEC mean for oil markets and the climate?

The world's third-largest oil producer has the capacity to increase its output by almost 50 per cent, according to industry estimates.

The Guardian - UK

Thursday news quiz: interrupted dinners and shows, and a salamander

Test yourself on topical news trivia, pop culture and general knowledge every Thursday. How will you fare?

The Conversation

The UAE is leaving the OPEC oil cartel. What could that mean for oil prices?

The United Arab Emirates (UAE) has announced that on May 1, it will leave both the Organization of the Petroleum Exporting Countries (OPEC) and the larger OPEC+ group. By withdrawing, the UAE will now be able to independently decide how much oil it produces and sells.

Barchart

Crude Prices Surge With No End in Sight to US-Iran War

June WTI crude oil (CLM26 ) on Wednesday closed up +6.95 (+6.95%), and June RBOB gasoline (RBM26 ) closed up +0.1650 (+4.81%). Crude oil and gasoline prices extended this week's sharp rally on Wednesday, with crude oil posting a 3-week high and gasoline posting a 3.75-year high. Crude prices continue...

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The Guardian - UK

The Guardian view on the UAE quitting Opec: whatever importers pay, the price of fossil fuels is too high

Editorial: The world must accelerate the shift to renewables, regardless of the economic effects of Abu Dhabi’s decision

The Conversation

UAE’s departure from Opec tells a story about the limited future of oil production

The decision by the United Arab Emirates to leave the oil producers’ cartel Opec after 59 years is more than a symbolic break. It highlights a growing divide among major oil producers over how to respond to a changing energy landscape, and will weaken the group’s ability to manage global…

Barchart

Crude Prices Soar on Prospects for Prolonged Closure of Hormuz

June WTI crude oil (CLM26 ) today is up +5.18 (+5.18%), and June RBOB gasoline (RBM26 ) is up +0.1502 (+4.38%). Crude oil and gasoline prices extended this week's sharp rally today, with crude oil posting a 2-week high and gasoline posting a 3.75-year high. Crude prices continue to climb...

Fortune

Current price of oil as of April 29, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

International Business Times UK

Influencer Evelyn Ha Claims Shocking Truth Twisted After Ex Ben Pasternak Arrest Sparks Heated Abuse Allegations Debate

Influencer Evelyn Ha faces online scrutiny as ex Ben Pasternak arrest sparks abuse debate and competing claims spread across social media platforms

Caixin Global

Business Brief (April 29): China Vows to Drive ‘AI+’ Initiative

China grants zero-tariff treatment to African partners, BYD profit slumps

Euronews

Oil prices rise despite UAE exit from OPEC as Iran war ceasefire hangs in balance

Oil markets are navigating a period of unprecedented volatility after the UAE announced its withdrawal from OPEC and the OPEC+.

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