United Arab Emirates Plans to Leave OPEC Amid Oil Market Volatility
The United Arab Emirates (UAE) has announced plans to exit the Organisation of the Petroleum Exporting Countries (OPEC), marking a significant shift in global energy politics.This move is seen as a major blow to OPEC, which has historically coordinated oil production among member states to influence global oil prices.The UAE's decision comes amid unprecedented volatility in the oil market, exacerbated by the ongoing US-Israel war with Iran.The conflict has triggered the largest loss of oil supply on record, according to the World Bank.OPEC was established in 1960 by five founding members, including Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela, to... [Continue Reading]
360LiveNews | 29 Apr 2026 19:31 LONDON
U.S. Gas Prices Climb Further as Effects of Iran War Reverberate
Gasoline prices in the United States have continued to rise, with the national average price per gallon reaching $4.23.This increase follows a broader upward trend in oil prices, which have been affected by ongoing supply disruptions in the Middle East.The disruptions are linked to the continuing conflict in Iran, which has impacted the flow of oil to global markets.The immediate effect has been a noticeable increase in fuel costs for consumers across the country.The rise in gasoline prices adds to economic pressures faced by households and businesses reliant on fuel.This development is significant as it reflects the broader geopolitical tensions... [Continue Reading]
360LiveNews | 29 Apr 2026 17:07 LONDON
