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 ...

The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil ...

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

OPEC+ ministers are set to meet amid soaring oil prices driven by geopolitical tensions. Will their decisions affect fuel ...

The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produ ...

The UAE said it decided leaving OPEC was in its national interest after reviewing its production policy and capacity.

OPEC crude oil production plummeted to its lowest level in 37 years, driven by U.S. sanctions on Iran and disruptions in the ...

The UAE's departure from OPEC could trigger a domino effect, experts say, potentially leading to lower gasoline prices within ...

OPEC crude output fell last month, hitting its lowest level in decades as the US blockade of Iran and disruption in the ...

The Arab oil producer has long expressed frustration with the quotas it has to follow as part of OPEC, the cartel of major state-owned oil producers.

The United Arab Emirates will leave OPEC, a decades-old cartel of the world’s top oil exporters, delivering a shock that will ripple through global oil markets at a time of unprecedented turmoil ...

Global demand is facing constraints because supply from the Persian Gulf has been effectively cut off by Iran's blockade of the Strait of the Hormuz.