Oil production in OPEC states down to record minimum
Oil production in OPEC countries dropped in April 2026 by 420,000 barrels per day to a 36-year minimum, Bloomberg reported.
Organization of the Petroleum-Exporting Countries (OPEC)
UAE withdraws from another international organization
The United Arab Emirates withdrew from the Organization of Arab Petroleum Exporting Countries (OAPEC) from May 1, the organization said in a statement.
OPEC countries to raise oil output by 188,000 barrels per day
Seven key OPEC+ members (Russia, Saudi Arabia, Iraq, Kazakhstan, Kuwait, Oman and Algeria) have decided to raise oil output quotas by 188,000 barrels per day (bpd) in June, the group said in a joint statement.
Deep crisis seen on global oil market - Novak
The global oil market is experiencing a deep crisis, with large volumes of oil not reaching the market, Russian Deputy Prime Minister Alexander Novak said.
Russia not planning to leave OPEC plus - Kremlin
Russia is not considering exiting the OPEC+ format, Kremlin Spokesman Dmitry Peskov said.
UAE exit from OPEC to hinder Saudi Arabia's influence on oil prices - report
The United Arab Emirates exit from OPEC would be painful for the oil cartel, undermining Saudi Arabia’s ability to influence global oil prices through it, the Canadian newspaper The Globe and Mail said.
UAE Foreign Ministry comments on decision to exit OPEC and OPEC plus
The United Arab Emirates decision to leave OPEC is a "sovereign, strategic choice" based on the country's long-term economic vision, UAE Foreign Ministry communications director Afra Mahash Al Hameli said.
UAE to leave OPEC and OPEC plus
The United Arab Emirates decided to exit from OPEC and OPEC+ from May 1 of this year, WAM state agency said.
UAE ready to continue cooperation with its oil export partners
Abu Dhabi will not sever ties with oil-exporting countries after leaving OPEC
Iraq intends to remain in OPEC
The UAE's state news agency WAM reported that the UAE intends to leave OPEC and OPEC+
OPEC countries oil production-down about a third
Crude oil production in the major Gulf Arab exporters plunged in March due to the Iran war, according to data released by OPEC.
OPEC plus to ramp up oil output in May
Eight leading OPEC+ countries have decided to increase oil production by 206,000 barrels per day (bpd) in May (compared to April levels), the organization’s statement said.
Novak notes high volatility on oil market amid Iran situation
The OPEC+ nations have noted the high oil market volatility amid the geopolitical tensions stemming from the development around Venezuela and Iran, Russian Deputy Prime Minister Alexander Novak said.
OPEC plus keep production quotas until late March
The eight OPEC+ nations have agreed to pause production increments in March 2026 and keep oil production quotas at the December 2025 level, OPEC said after their meeting.
OPEC+ countries to reduce oil production ceiling in January
OPEC+ member states adhering to voluntary production cuts will lower their combined maximum permissible oil output starting in January, with a reduction of 148,000 barrels per day.
Russia ready to maintain stability in global oil market
The global oil market remains sensitive to demand-supply fluctuations and OPEC+ nations will take additional measures to maintain its stability, Russian Deputy Prime Minister Alexander Novak said.
Kuwait ready to compensate for possible oil shortage
OPEC is ready to raise production by rolling back its oil output cuts further if required to address market shortfalls after the U.S. imposed new sanctions on Russian oil majors, Kuwait's oil minister Tariq Al-Roumi said.
Media: OPEC+ plans to increase oil production in October
Eight OPEC+ countries have agreed to increase oil production in October. Media reports suggest this decision could mark the beginning of a phased exit from existing production cuts, though discussions are still ongoing.
Putin holds telephone conversation with Crown Prince of Saudi Arabia
Russian President Vladimir Putin held a telephone conversation with the Crown Prince and Chairman of the Council of Ministers of Saudi Arabia Mohammed bin Salman Al Saud.
OPEC+ countries to increase oil production in autumn
The eight OPEC+ countries that voluntarily cut oil output have decided to increase production in September by 547,000 barrels per day, which is in line with the original plan to increase production for four months, according to a statement posted on the OPEC website.
