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The UAE has announced its withdrawal from OPEC and OPEC+ effective May 1, 2026, according to state news agency WAM. Analysts suggest this move could prompt other member countries to exit, potentially undermining the cartel's influence. The UAE also faces speculation about its future in the Gulf Cooperation Council (GCC).
Japanese authorities have confirmed they did not pay Iran for the passage of the Idemitsu Maru through the Strait of Hormuz, attributing the vessel's safe transit to government negotiations. The tanker, carrying two million barrels of oil, had been stranded for nearly two months amid heightened tensions in the region.
Gulf leaders met in Saudi Arabia for their first in-person summit since the start of the US–Israel war with Iran, focusing on regional security and long-stalled joint projects. The meeting came amid reports that the US is considering an Iranian proposal to end the conflict and reopen the Strait of Hormuz, and as the UAE announced its withdrawal from OPEC and OPEC+.
The UAE's decision to leave OPEC and OPEC+ from May 1, 2026, is expected to weaken the cartel's influence on global oil prices and increase doubts about Saudi-led production quotas. Analysts cite the UAE's desire to maximize production capacity and long-standing disagreements with Saudi Arabia as key factors, though short-term price impact may be limited.
The United Arab Emirates has announced it will leave OPEC and the wider OPEC+ framework, a move analysts say could weaken the cartel's influence. The decision, effective May 1, reflects the UAE's long-term strategic and economic vision, according to official statements.
Bahrain's Interior Ministry revoked the citizenship of 69 individuals, including family members, for allegedly supporting hostile Iranian acts. The move, based on Article 10/3 of the Bahraini Nationality Law, has drawn criticism from rights groups. Separately, a court sentenced five people to life for plotting with Iran.
Prime Minister Mark Carney unveiled plans for a government-owned investment fund aimed at boosting Canadian industry amid US tariff threats. The Canada Strong Fund will receive an initial C$25bn and focus on energy, infrastructure, mining, agriculture, and technology, though critics question its fiscal viability.
Reports confirm Israel sent Iron Dome batteries and personnel to the United Arab Emirates during the recent conflict with Iran, marking the first operational use of the system outside Israel or the US. The deployment highlights deepening Israel-UAE military cooperation, though the relationship remains politically sensitive in the Gulf.
Pakistan LNG Limited has approved a revised bid of $18.4 per mmBtu from TotalEnergies for one cargo and floated urgent tenders for two more, as the Strait of Hormuz closure and Qatar's force majeure disrupt supplies. The country faces a power shortfall with peak demand 4,500MW above supply, leading to load shedding.
Amid the US-Iran conflict, thousands of seafarers remain stranded in and around the Strait of Hormuz, facing shortages of food and water, with reports of at least 10 deaths. India, a major supplier of seafarers, is struggling to repatriate its citizens as shipping companies and agents delay sign-offs, leaving crews in dangerous waters with dwindling supplies.
Iranian Foreign Minister Abbas Araghchi is traveling to Islamabad, Muscat, and Moscow for consultations, as Pakistan intensifies efforts to mediate a second round of US-Iran ceasefire talks. No direct US-Iran negotiations are planned during the visit, with Pakistani officials set to convey messages between delegations.
The White House announced that President Donald Trump's envoys Steve Witkoff and Jared Kushner will travel to Pakistan for talks with Iran, while Iranian Foreign Minister Abbas Araghchi has arrived in Islamabad. The visit comes amid deadlocked negotiations and a de facto blockade of the Strait of Hormuz, with US Vice President JD Vance on standby to join if needed.
US President Donald Trump announced that Israel and Lebanon agreed to extend their ceasefire by three weeks after a White House meeting with envoys. The initial 10-day truce, which began on April 17, was loosely observed amid continued exchanges of fire. The extension comes as broader US-Iran peace efforts remain stalled.
Israeli officials, including Defense Minister Israel Katz and IDF Chief of Staff Eyal Zamir, have declared readiness to resume military operations against Iran, contingent on US approval. The statements follow failed US-Iran talks and a fragile ceasefire, with reports of potential new attacks as early as next week.
Ahmed Shihab-Eldin, a US-Kuwaiti journalist detained for 52 days in Kuwait, has been acquitted of all charges, according to his legal team and press freedom groups. He faced charges including spreading false information and harming national security over social media posts about US-Israeli conflict with Iran.
Iranian officials say the national football team is fully prepared to compete in the 2026 FIFA World Cup in the United States, but participation remains conditional on safety guarantees and visas for players with Revolutionary Guard ties. FIFA President Gianni Infantino has affirmed Iran's participation, while US President Donald Trump has voiced no objection.
Italian sports and government figures have dismissed a suggestion by a U.S. special envoy that Italy replace Iran at the 2026 FIFA World Cup. Paolo Zampolli said he floated the idea to President Donald Trump and FIFA’s Gianni Infantino; Italian ministers called it inappropriate and shameful, while FIFA has insisted Iran remains set to participate.
Iran's nationwide internet blackout has entered its 56th day, making it the longest disruption ever recorded, according to NetBlocks. The outage began after US and Israeli military operations launched on February 28, and has continued through diplomatic efforts and a ceasefire announcement. Iranian authorities report 3,375 deaths from the attacks, while talks in Islamabad have failed to reach a long-term agreement.
Lufthansa has announced it will cancel 20,000 short-haul flights between May and October to save jet fuel, as prices have more than doubled since the start of the US-Israeli war on Iran. The crisis has prompted airlines across Europe to introduce surcharges and raise fares, while experts warn of potential supply shortages.
US Central Command reports 31 vessels turned away since the naval blockade of Iran began on April 13. The figure, which varies across statements, comes amid ongoing tensions and failed US-Iran talks in Islamabad. Iran insists talks could resume if the blockade is lifted.