Oil and gas

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Why UAE's decision to leave OPEC is major shift for cartel

The UAE accounts for 12% of OPEC's output, but tensions had been simmering over intragroup rivalries and the country wanting to export more oil.

United Arab Emirates

Yuichi YAMAZAKI / AFP via Getty Images

First LNG tanker transits Strait of Hormuz since Iran war began

Thomas Kronsteiner/Getty Images)

Breaking | Last Updated: April 28, 2026, 8:54 am

UAE to leave OPEC on May 1

The United Arab Emirates says it will focus more on domestic production amid the US-Israel-Iran war.

United Arab Emirates

A person walks past the closed Metropolitan Opera at Lincoln Center on Jan. 7, 2021, in New York City.

Why did the Met Opera lose its Saudi funding deal?

The deal, announced as a nonbinding memorandum of understanding last September, would have seen the PIF inject up to $200 million into the opera institution over the next eight years.

Latest News

Which airlines are cutting flights amid Hormuz fuel disruption?

Refueling trucks are seen at Southend Airport on April 17, 2026, in Southend, England.

How are Iran-linked tankers still moving through Hormuz blockade?

BAY ISMOYO / AFP via Getty Images

Iran seizes two cargo ships in Hormuz after Trump extends ceasefire

Fishing and cargo ships and ferries are pictured in the Gulf off the Iranian port city of Bandar Abbas, which is the main base of the Islamic Republic's navy and has a strategic position on the Strait of Hormuz, on April 29, 2019.

Analysis

Gulf energy deals face Iran war stress test as global expansion meets oil shock

A picture shows the Ras Laffan Industrial City, Qatar's principal site for production of liquefied natural gas and gas-to-liquid, administrated by Qatar Petroleum, some 80 kilometers (50 miles) north of the capital Doha, on Feb. 6, 2017.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Italy may impede Turkish-Azeri efforts for EU gas corridor

Turkey and Azerbaijan realize EU's gas corridor dream, but serious questions remain unanswered.

JABALIYA, GAZA - MARCH 29: A Palestinian woman walks past a petrol pump at a fuel station on March 29, 2010 in Jabaliya, Gaza Strip. Fuel in Gaza is supplied primarily from the tunnels via Egypt, but is of poor quality. Nearly all goods for sale in Gaza have been smuggled from Egypt via smuggling tunnels, bringing in food, fuel, livestock, motorcycles and medicine. Gaza's economy and employment levels have plummeted since the Israelis imposed a blockade after Hamas seized control in 2007. (Photo by Warrick

Rapid spread of gas stations fuels controversy in Gaza

Gas stations are increasingly being invested in under the degenerating economic and humanitarian situation in the Gaza Strip, pointing at conflicting interests between Gaza’s Ministry of Finance and Planning and the Ministry of Local Government.

Russia might not be ready for long-term OPEC commitment

Saudi Arabia seems to think Russia is on board with a lengthy OPEC deal, but Moscow has a lot of factors to consider.

The Homer Ferrington gas drilling rig, operated by Noble Energy and drilling in an offshore block on concession from the Cypriot government, is seen during President Demetris Christofias' visit in the east Mediterranean, Nicosia November 21, 2011. REUTERS/Cyprus Public Information Office/Handout/File Photo FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS

Erdogan stays silent on Qatar amid Cyprus gas row

Amid an escalating dispute over gas exploration off Cyprus, observers in Turkey are perplexed about why Ankara is sparing Qatar while harshly reacting to other countries and companies cooperating with the Greek Cypriots.

Landowners waiting for next step in Jordan-Israel gas pipeline

Members of the Jordanian Bar Association are readying lawsuits to challenge land expropriations for the construction of a pipeline for natural gas from Israel's Leviathan field.