OPEC & Petroleum
12 shared events · Importance 6 · Last updated May 14, 2026
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International
OPEC: The departure of the United Arab Emirates, one of its largest producers, significantly weakens OPEC's control over global oil supplies and prices, potentially leading to disarray and reduced influence in managing oil markets.
Petroleum: The withdrawal of United Arab Emirates from OPEC could lead to increased supply of Petroleum in the medium term, potentially putting downward pressure on prices, though short-term effects are uncertain due to geopolitical tensions.
Apr 28, 2026 · 222 articles
International
OPEC: OPEC lowered its forecast for global oil demand growth in 2026 due to the Iran war and the closure of the Strait of Hormuz, impacting its ability to deliver on output increases.
Petroleum: The price of Petroleum has soared due to the closure of the Strait of Hormuz and reduced Middle East output, leading to revised demand forecasts.
May 13, 2026 · 6 articles
International
OPEC: OPEC is losing its third-largest producer, United Arab Emirates, which will weaken its leverage over global oil supplies and prices.
Petroleum: The Iran war has caused spiking gasoline prices and increased costs for petroleum-derived products, as crude oil is a fundamental component for fuel and over 6,000 consumer products.
Apr 22, 2026 · 43 articles
International
OPEC: The United Arab Emirates decided to withdraw from OPEC, which could have implications for global oil supply and pricing.
Petroleum: Global petroleum shipments are severely disrupted by the standoff in the Strait of Hormuz, leading to increased prices and economic fallout.
Apr 26, 2026 · 104 articles
International
OPEC: OPEC, of which Iran is a member, could see reduced crude exports from Iran due to the United States blockade, although Iran may sustain production by storing oil.
Petroleum: Petroleum prices have surged above $100 per barrel due to the Iran war and the closure of the Strait of Hormuz, leading to higher costs across multiple sectors.
Apr 08, 2026 · 307 articles
International
OPEC: OPEC agreed to a modest oil output boost for April, but this is largely insufficient to offset the supply disruptions caused by the Middle East conflict.
Mar 01, 2026 · 42 articles
International
OPEC: Venezuela is a member of OPEC, and the United States' actions to control its oil flows could have implications for the group's dynamics.
Jan 07, 2026 · 6 articles
International
OPEC: OPEC Plus announced an increase in oil production to mitigate the impact of the Middle East conflict on oil prices.
Feb 28, 2026 · 358 articles
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