To understand why the UAE’s move is such a big deal, it is important to first unpack what OPEC and OPEC+ are, how they function, and why their decisions ripple across the global economy.

Spanish energy group Repsol said on Thursday it has reached an agreement with the Venezuelan government to regain control of its oil business in the country and sharply increase production over the coming years.

The United Arab Emirates' decision to quit OPEC and OPEC+ has brought years of tensions with Saudi Arabia out into the open, marking a strategic break with Saudi-led oil governance in a rebalancing of power shaped by the Iran ​war.

Buy Brent crude oil futures. UAE leaving OPEC weakens cartel “shock absorbers,” making supply more fragmented and price more sensitive to any Persian Gulf disruption. Even if the immediate price move is muted,

Iran has shifted the battlefield away from traditional military conflict and into something far more impactful - economic warfare centered around the Strait of Hormuz. By controlling who can pass and charging fees to oil tankers,

Spanish energy company Repsol has reached an agreement with Venezuela’s government and state-owned company Petróleos de Venezuela (PDVSA) to regain operational control of key oil assets and sharply increase production over the next three years.

Markets looked past rising supply as shifting U.S. rhetoric on Iran and ongoing weather-related disruptions kept risk premiums elevated. Trump’s erratic rhetoric has been greatly supportive of oil prices this week, first promising ‘speed and violence ...

CARACAS, Venezuela — Venezuela’s legislature on Thursday approved opening the nation’s oil sector to privatization, reversing a tenet of the self-proclaimed socialist movement that has ruled the country for more than two decades. The National ...

This article adheres to strict editorial standards. Some or all links may be monetized. After the capture of Venezuelan President Nicolás Maduro, U.S. President Donald Trump said America will “run the country” until a “safe, proper and judicious ...

The Strait of Hormuz is open again. But don’t get comfortable.

The US on Friday issued a license letting countries buy more Russian oil that’s already been loaded on tankers, part of the White House’s push to prevent prices from surging.