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Iran has issued a new 14-point peace proposal, but US President Donald Trump rejected it as 'not acceptable.' Meanwhile, ongoing naval clashes in the Strait of Hormuz and shifting Gulf alliances highlight the fragile state of the region.
Israel's air force expansion, including additional F-35 purchases and extensive combat operations since October 7, 2023, is positioning the nation as a major military power. The IDF reported dropping 135,000 bombs and performing thousands of evacuations, while analysts note regional wariness of Israel's growing capabilities.
OPEC+ agreed on Sunday to raise its collective production quota by 188,000 barrels per day for June, a move widely described as largely symbolic given ongoing disruption of Gulf oil exports through the Strait of Hormuz. The decision came days after the United Arab Emirates formally left the group, and analysts say it signals continuity rather than any real change in physical supplies.
Seven key OPEC+ members have decided to increase oil output quotas by 188,000 barrels per day in June, aiming to accelerate compensation for past overproduction. Tatneft's CEO said the company expects and has the capacity to produce more than last year, subject to OPEC+ limits.
Manchester United host Liverpool in a pivotal Premier League match at Old Trafford, with both teams vying for Champions League qualification. United, under caretaker boss Michael Carrick, have improved significantly, while Liverpool arrive on a three-match winning streak. The match kicks off at 3:30pm (14:30 GMT) on Sunday, May 3.
Middle Eastern governments are reviving proposals for overland pipelines and new rail-sea corridors as wartime disruptions threaten the Strait of Hormuz and Red Sea. Led by Saudi Arabia, Turkey, and the UAE, these efforts aim to link the Indian Ocean to the Mediterranean, with Syria positioning itself as a potential energy hub.
Key OPEC+ members, including Russia and Saudi Arabia, are set to discuss June oil production targets at a monthly online meeting. The talks come amid the UAE's withdrawal from the group and reports of a planned output increase.
The UAE officially left OPEC and OPEC+ on May 1, ending nearly six decades of membership. The decision, attributed to national interests and long-simmering quota disputes, underscores a deepening rift with Saudi Arabia and rising tensions among Gulf states amid the Iran war. Analysts see the move as a significant blow to the cartel’s cohesion.
Saudi Arabia initially set a minimum age of 15 for Haj pilgrims, but later reversed the decision, allowing children aged 12 and above to perform Haj. Visas rejected under the temporary restriction will be reprocessed, and the Road to Makkah project has been expanded to Lahore.
The Trump administration is ratcheting up pressure on Iran through a naval blockade and a new UN Security Council resolution, seeking to cut off oil revenue and force concessions. Naval traffic in the Strait of Hormuz has plummeted by over 95%, while Iranian officials warn of sharp production declines. The two sides remain at a ceasefire, but the path to a negotiated settlement remains uncertain.
Iran's Foreign Minister Abbas Araghchi held phone calls with counterparts from Egypt, Iraq, Qatar, Saudi Arabia, Turkey, Azerbaijan, and Turkmenistan in early May. The discussions focused on regional security, the Caspian Sea, and Iran's position on what it describes as US and Israeli aggression.
FIFA President Gianni Infantino announced his candidacy for re-election in 2027, receiving early support from African and South American football bodies. The next FIFA Congress will be held in Morocco, marking the second consecutive election meeting in Africa.
Liverpool manager Arne Slot says Mohamed Salah will return from injury before the season ends, but conflicting reports from Egyptian officials suggest the forward may miss the rest of the Premier League campaign. Salah’s departure from Anfield and his World Cup participation are both in focus.
The Zambian government has postponed RightsCon 2026, a major human rights and technology conference, days before it was to open in Lusaka. Human Rights Watch and civil society groups criticize the move, while unverified reports suggest Chinese pressure over Taiwanese delegates may have played a role.
Iranian envoys have reiterated Tehran's preference for diplomatic engagement with Washington, even as they rejected European naval deployments near its coast and asserted that the US 'lost' on the battlefield, as reported by TASS.
As the 60-day deadline set by the War Powers Resolution approaches for the US-Iran conflict, President Trump asserts he does not need congressional authorization to continue military operations, while lawmakers explore legal challenges. The deadline, which falls on May 1, has sparked debate over the limits of presidential war powers and the role of Congress.
Saudi Arabia's Public Investment Fund has confirmed it will stop funding LIV Golf after the 2026 season, citing a shift in its investment strategy. The breakaway league, which has spent over $5 billion since 2022, is now restructuring with a new board and seeking alternative partners, while players like Cameron Smith express confidence in its survival.
The World Press Freedom Index hits a new low as more than half of all countries now face 'difficult' or 'very serious' conditions for journalists. The US continues its slide, while only a handful of Nordic nations maintain 'good' press freedom.
Russia's Deputy Prime Minister Alexander Novak confirmed Moscow's continued participation in OPEC+, stating the agreement effectively mitigates oil market risks. The remarks come as the UAE's withdrawal from both OPEC and OPEC+ took effect in May 2026. Analysts suggest this may lead to a more flexible Russian approach within the alliance.
Reports say e& (formerly Etisalat) is reviewing its investment in Pakistan's PTCL as part of a broader portfolio optimisation, but PTCL insists its shareholders remain committed and no change is planned.