Opec

OPEC+ approves further oil output increase as Hormuz exports start to recover

The oil producing group has agreed in principle to increase quotas by 188,000 barrels per day from August.

Iraq warns it might leave OPEC if oil quota not raised, sources say

A drone view shows the Rumaila oil field in Basra, Iraq, June 8, 2026. REUTERS/Essam Al-Sudani

Climate-vulnerable countries push for global funding framework

A new initiative seeks to address the financing gaps left by years of global crises, more frequent and extreme droughts, hurricanes or floods, and what some say is a mispricing of sovereign risk that pushes up poorer countries’ borrowing costs.

OPEC sticks to robust oil demand outlook, sees no peak to 2050

The 11-member OPEC depends on oil for a large part of government income.

OPEC+ to boost oil production as ceasefire in Iran remains elusive

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al Saud and OPEC Secretary-General Haitham Al Ghais at the St Petersburg International Economic Forum on June 4.

Saudi oil prince’s iron grip faces ultimate test with UAE’s shock OPEC exit

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al Saud was granted unprecedented powers as a chairman of OPEC to call meetings at any time.

Commentary

Oil markets and prices will not be the same after UAE’s OPEC exit

The headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna. For OPEC, losing the UAE is not a flesh wound, but an amputation.

Forum: Treat energy security as a whole-of-economy issue

News analysis

UAE oil break exposes deepening Saudi rift as Gulf power shifts

The United Arab Emirates’ decision to quit Opec is part of a deeper rupture in ties in which Abu Dhabi is prioritising autonomy over deference to Riyadh, said analysts.

OPEC+ likely to agree another oil output hike without UAE, sources say

Members of OPEC+ had been expected to hike output to 206,000 barrels per day before the UAE's exit announcement.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.