The UAE’s decision to withdraw is based on its long-term strategic and economic vision and evolving energy profile ...

Opec aims to influence the global price of oil by agreeing how much its oil members sell. When they agree to sell more it is ...

The United Arab Emirates announced that it will leave OPEC effective May 1. The departure will weaken OPEC’s leverage over global oil supplies and prices. Meanwhile, the average price of regular gas ...

OPEC is losing a major member.

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

OPEC is a group of oil-producing countries that work together to influence how much oil the world gets. It was formed in 1960 by nations that felt big Western oil companies were setting prices ...

FILE PHOTO: An installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) is seen during the COP29 United Nations climate change conference in Baku, ...

The UAE’s departure from OPEC is a big move, said analysts, but while market reaction has been muted, the exit could reshape ...

Last month, the United Arab Emirates announced its withdrawal from Opec, threatening the once-mighty oil-producing group ...