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UAE says it left Opec on good terms, Iran criticises exit

UAE says it left Opec on good terms, Iran criticises exit UAE Energy Minister Suhail Al Mazrouei said on Monday that the UAE left Opec and Opec+ on good terms and will continue working with members of the groups. “Opec has been relatively calm about the decision,” he said at a…

Opec+ set to raise output as Strait of Hormuz blockade disrupt oil flows

Opec+ set to raise output as Strait of Hormuz blockade disrupt oil flows The Opec+ has agreed to increase output in June in a move aimed at reassuring markets that supply will continue despite the Israeli-US war on Iran. The group plans to add 188,000 barrels per day, a…

OPEC+ meets to set quotas after UAE exit

OPEC+ meets to set quotas after UAE exit Seven members of OPEC+ are meeting to decide oil production levels for the first time since the United Arab Emirates left the group, Al Jazeera reported. The UAE formally exited on 2 May, after deciding on 28 April to withdraw over…