OPEC News
Latest articles and news about OPEC on AXL Media.
Latest Articles
- United Arab Emirates to Exit OPEC on May 1 as Geopolitical Tensions and Production Limits Fracture Cartel
Published: Apr 30, 2026
Section: Middle East
The United Arab Emirates announced its formal withdrawal from OPEC and the OPEC+ alliance on Tuesday, April 28, 2026, effective May 1. Following years of production quota friction...
- Kremlin Rejects OPEC+ Output Changes as Brent Crude Surpasses $100 Amid Global Energy Standoff
Published: Apr 23, 2026
Section: Europe
Kremlin spokesman Dmitry Peskov confirmed on Thursday that Russia and its OPEC+ partners have no immediate plans to adjust oil production volumes, despite the escalating Middle Eas...
- IEA Warns of Historic Oil Demand Contraction Following Strait of Hormuz Closure and Global Supply Shock
Published: Apr 15, 2026
Section: Africa
The International Energy Agency has issued a stark warning that global oil demand will contract at its fastest rate since the pandemic due to the effective closure of the Strait of...
- Global Oil Markets Face Volatility as President Trump Issues Midweek Ultimatum to Iran Over Strait of Hormuz
Published: Apr 6, 2026
Section: Oil
Global oil prices experienced sharp fluctuations following a series of explicit threats from President Donald Trump directed at Iranian infrastructure. Brent crude surged past $110...
- Global Crude Oil Benchmarks Hit Four Year Highs As Persian Gulf Conflict Threatens Strategic Energy Shipping Routes
Published: Apr 4, 2026
Section: Africa
WTI crude futures have surged past 112 dollars per barrel while Brent crude exceeded 109 dollars following intensified military rhetoric in the Persian Gulf. The market rally refle...
- Federal Government Mandates Immediate Oil Production Surge to Capitalize on Global Energy Supply Shortfalls
Published: Mar 19, 2026
Section: Africa
Minister of State for Petroleum Resources Heineken Lokpobiri has challenged oil and gas operators to accelerate output during a strategic industry meeting in London. The directive...
- Hormuz Strait Geopolitical Shock Triggers 30% Oil Price Surge as Global Markets Brace for Supply Disruptions
Published: Mar 12, 2026
Section: Africa
Brent crude has climbed into the low-90s per barrel following an escalation in the US-Israel-Iran conflict, overshadowing a projected global oil surplus for 2026. Financial analyst...
- OPEC+ Navigates 2026 Energy Crisis As Custodial Crude Paradox Redefines Global Oil Price Stability
Published: Mar 12, 2026
Section: Africa
The 2026 oil market has shifted from traditional supply-demand metrics toward a system governed by geopolitical permissions and "custodial crude" access. While OPEC+ maintains prod...
- OPEC Forecasts Global Oil Demand Expansion of 1.3 Million Barrels Daily Amid Rising Production Levels
Published: Mar 11, 2026
Section: Markets
The Organization of the Petroleum Exporting Countries projected on Wednesday that global oil demand will grow by 1.3 million barrels per day in 2027, largely driven by non-OECD nat...
- Global oil prices climb one percent as Middle East supply disruptions and Strait of Hormuz closure offset US escort proposals
Published: Mar 4, 2026
Section: Global Economy
Brent crude rose to $82.31 a barrel on Wednesday as the conflict between the United States, Israel, and Iran severely restricted energy exports. While President Donald Trump propos...
- Indian aviation authorities monitor fuel supplies as geopolitical conflict threatens Strait of Hormuz oil corridor
Published: Mar 3, 2026
Section: Asia
Indian airports have commenced emergency fuel inventory assessments following reports of a potential closure of the Strait of Hormuz amid the escalating United States and Iran conf...
- Global Crude Prices Surge as Tanker Gridlock at Strait of Hormuz Threatens 1970s-Style Oil Embargo Crisis
Published: Mar 2, 2026
Section: Markets
Brent crude prices spiked toward $82 per barrel on Monday following escalating US-Israel strikes on Iran and retaliatory missile barrages. Market analysts warn that a prolonged hal...