OPEC & Global Markets

The Opec+ production agreement was dealt a devastating blow in March 2020 when Opec producers were unable to sign Russia up to deeper cuts. The process has shown that while Opec is unable to bring about substantial price gains, its strength lies in the ability of its core members to flood the market and undercut prices.

OPEC & Global Markets

1 May, 2026

Featured

The UAE & Opec: 59 And Out

The radical reshaping of global energy markets gathered pace this week, with the UAE exiting Opec on 1 May. The UAE chose to act now as the Hormuz closure means there will be no near-term supply impact.
Opec Production* Has Shrunk Significantly Over The Past Decade As Members Have Left And Cuts Have Lingered (mn b/d)
OPEC & Global Markets

8 May, 2026

Top Story

Oil Markets Enter Danger Zone As Inventories Drain

Oil markets are entering uncharted territory, with the closure of the Strait of Hormuz now well into its third month. Even with an extremely fragile ceasefire still largely in place, the economic impact of the conflict shows no sign of letting up.
Saudi Crude Exports From Yanbu Have Surged Since The Start Of The Conflict (mn b/d)
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Read more

SELECTED DATA

Global LNG Exports - Top Three Suppliers (mn tons): US Strengthens Lead For 2024, Australia Also Ships Record Volumes As Overall Trade Edges Higher

The UAE’s Monthly Quota Is Set To Break Above 3.05mn b/d From September This Year

Key 2025-26 Global Oil Demand Forecasts: Opec Remains Far More Bullish Than Others (mn b/d)

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