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Economy & Business

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Analysis

UAE’s OPEC exit rattles cartel as Gulf alliances shift

OPEC's fourth-largest producer will leave the cartel on May 1, marking the most significant departure in the group’s history as the war changes Abu Dhabi's relationship priorities.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

MUMEN KHATIB/AFP via Getty Images

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

An Iranian grocer sells pistachios imported from Iran at a Persian products shop in the Gulf emirate of Dubai on July 10, 2019. (Photo by Karim SAHIB / AFP) (Photo credit should read KARIM SAHIB/AFP via Getty Images)

Pistachios reach highest prices in eight years amid Iran war

Pistachio prices rose to around $4.57 a pound in March, their highest since 2018, according to data company Expana.

Latest News

UAE’s cash request tests US ties as Iran war strains Gulf financial muscle

A view of Dubai Marina in Dubai on March 3, 2026.

United Arab Emirates

IEA delivers grim gas supply forecast as oil notches 15% weekly rise

A liquefied natural gas (LNG) tanker is moored at a LNG berth in Kawasaki, Kanagawa, prefecture April 8, 2026.

Why did the Met Opera lose its Saudi funding deal?

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

Which airlines are cutting flights amid Hormuz fuel disruption?

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

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

In Bristol, reporting on regional business, climate change, AI, tech

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Francisco Serrano

In Lisbon, reporting on North Africa business

Kevin Frayer/Getty Images

UAE sees higher Chinese car sales as China faces decline at home

China relied on overseas markets to maintain 56% of its vehicle sales in June, and the Middle East is a hot spot.

United Arab Emirates

This picture taken on April 18, 2023 shows the Green Hydrogen Plant built by Spanish company Iberdrola in Puertollano.

Analysis

Morocco's agricultural independence to get boost from green ammonia plant

The project by the state-owned company in Tarfaya will help the North African country meet the domestic demand for the compound, which is a crucial ingredient in nitrate fertilizers.

In Bristol, reporting on regional business, climate change, AI, tech

A picture taken on October 13, 2021 shows Kuwait's largest oil refinery at the Al-Ahmadi complex, about 40 kilometres (25 miles) south of the capital Kuwait City. - A fire broke out on October 18, 2021 in Al-Ahmadi refinery, with no interruptions to site operations or petrol exports. The fire was reported at the site of Mina al-Ahmadi, located on the Gulf coast just opposite Iran, according to an AFP photojournalist. (Photo by AFP) (Photo by -/AFP via Getty Images)

Analysis

Saudi Arabia, Kuwait's gas dispute with Iran tests recent detente

Kuwait and Saudi Arabia consider the Durra gas field to be theirs, but Iran claims a part of it. The issue shows disagreements remain between Riyadh and Tehran following the resumption of diplomatic relations.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

A Qatari trader prepares before the opening of the stock market at the Qatari stock exchange in Doha on July 31, 2017. / AFP PHOTO / STRINGER (Photo credit should read STRINGER/AFP via Getty Images)

Qatar joins Gulf IPO spree as post-World Cup economic plans advance

Samuel Wendel

In Washington, DC, reporting on regional business and tech

AFP via Getty Images

Analysts skeptical new Iran-US arrangement would significantly impact oil market

Tehran has been increasing its output over the last year despite the sanctions on its oil industry.

ISTANBUL, TURKEY - MAY 03: People shop at a local street market on May 03, 2023 in Istanbul, Turkey. Persistently high inflation has led to a cost-of-living crisis in Turkey that has hurt President Erdogan's popularity ahead of the March 14 presidential election. (Photo by Burak Kara/Getty Images)

Turkey raises taxes up to 20% on basic goods as deficit, inflation linger

The move follows changes to Turkey’s monetary policy and a new cabinet following President Recep Tayyip Erdogan’s reelection.

This picture taken from the sea of Dubai on March 3, 2021 shows the skyline of the Gulf emirate with Burj Khalifa in the centre.

UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip

Israel and the United Arab Emirates led the Middle East and North Africa for the highest FDI inflow — the purchasing of assets in another country — and globally placed 15th and 16th, respectively, according to a UNCTAD report released Wednesday.

United Arab Emirates

Sultan Al Jaber

UAE COP28 president calls on oil firms to 'deliver climate action'

Sultan Ahmed Al Jaber gave a televised address to delegates at the OPEC International Seminar in Vienna, a meeting of oil executives and OPEC ministers.

United Arab Emirates

OPEC Secretary-General Haitham Al Ghais

OPEC on hunt for new members, secretary-general says

The oil cartel currently has 13 members, and 10 more countries form the OPEC+ group.

Justin Rose of England and his caddy look on, on the 9th hole during Day Four of the Saudi International.

Saudi Arabia to launch new sports investment group: report

The Financial Times report follows the merger between the Saudi-funded LIV Golf and the PGA Tour, but challenges remain as the kingdom eyes investment in golf, tennis and possibly American football.

JOE KLAMAR/AFP via Getty Images

At OPEC, Saudi Arabia defends oil cuts with Russia despite mild market reaction

The kingdom's energy minister called for more industry transparency, despite several news organizations being prohibited from reporting on the OPEC conference he was speaking at.

Sheikh Mohammed bin Radhid Al-Maktoum

UAE establishes investment ministry, forms EV and green policies

Sheikh Mohammed bin Rashid Al Maktoum, the UAE Prime Minister and Ruler of Dubai, chaired a high-level cabinet meeting in Abu Dhabi on Monday and formed the country's Ministry of Investment.

United Arab Emirates