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President Trump said new US strikes on Iran depend on ongoing negotiations, while Tehran warns it is prepared for any scenario and could expand the conflict beyond the Middle East if attacked again. Washington’s counterterrorism strategy signals continued military pressure, even as diplomatic efforts remain stalled.
As the US-Israel war in Iran disrupts global oil supplies, major energy companies report soaring profits, sparking debate over windfall taxes and the burden on households. BP and TotalEnergies lead with significant earnings jumps, while analysts highlight the broader economic impact on consumers and governments.
Russia has said it will not follow the United Arab Emirates out of OPEC+ and hopes the format will continue despite the UAE's decision to leave. Kremlin spokesman Dmitry Peskov stressed the importance of dialogue in balancing global energy markets and said Moscow would keep contacts with the UAE on energy issues.
The United Arab Emirates has announced its withdrawal from OPEC and OPEC+ effective May 1, 2026, a move that analysts say marks the culmination of a long-running dispute with Saudi Arabia over production quotas and oil prices. The decision could boost UAE output by over 40%, potentially disrupting African oil producers and signaling a broader realignment in global energy politics.
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).
The UAE has officially left OPEC and OPEC+ as of May 1, 2026, with officials saying the move was not aimed at any country and that production will not immediately increase. Minister Suhail Mohamed Al Mazrouei cited the closure of the Strait of Hormuz among factors, while Turkish and Malaysian experts see limited impact on global prices.
At the Beijing Auto Show, Chinese EV and battery makers showcased fast-charging technologies, a race triggered by BYD and CATL. Meanwhile, Li Auto is targeting BMW and Mercedes with premium SUVs in the Middle East and Asia-Pacific, expecting overseas sales to reach 30% by 2030.
The United Arab Emirates has announced its withdrawal from OPEC and OPEC+, effective May 1, citing long-term strategic and economic goals. The move, which surprised observers given the ongoing Strait of Hormuz disruptions, will leave the cartel with 11 members and reduce its capacity by about 15 percent.
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.
The UAE's decision to withdraw from OPEC and OPEC+ effective May 1, 2026, has raised questions about the future of the oil alliance. Russian officials and analysts say the agreement will remain intact thanks to the tacit partnership between Saudi Arabia and Russia, though some experts warn of a potential price war after Middle East conflicts subside.
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.
Iran's warning about submarine cables in the Strait of Hormuz has spotlighted the region's digital vulnerability. Subsea cables carry about 99% of global internet traffic, and Gulf nations rely on them heavily. Analysts note that damage could cause outages and economic fallout, with repair challenges in conflict zones.
China has publicly urged that the Strait of Hormuz remain open and has called for a ceasefire, signaling a rare split with Iran over its blockade. Analysts view this as a test of Beijing’s balancing act between Iranian ties and its economic interests, while the US sanctions Chinese vessels amid rising tensions.
Melania Trump called for ABC to take action against Jimmy Kimmel over a joke she called 'hateful and violent,' made days before a shooting at the White House correspondents' dinner. Kimmel defended the joke as a 'light roast' about age difference, while the White House escalated attacks, and the incident intensified debates over political rhetoric and free speech.
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.
Chinese authorities have launched new research initiatives on energy security and maritime chokepoints following prolonged disruptions in the Strait of Hormuz. Premier Li Qiang chaired a State Council session on supply resilience while President Xi Jinping urged the waterway's reopening in talks with Saudi leaders. Officials note China's economy has so far weathered the impact through stockpiles and diversified supplies.
Ongoing conflict in the Persian Gulf is disrupting fertiliser shipments through the Strait of Hormuz, a critical route for global agricultural inputs. With sub-Saharan Africa importing about 80% of its fertiliser, the disruptions risk significant impacts on food production and prices across the continent.
A 21-year-old Austrian man, identified as Beran A, pleaded guilty on Tuesday to charges related to a jihadist plot to attack a Taylor Swift concert in Vienna in August 2024, which led to the cancellation of three shows. He faces up to 20 years in prison, and is also accused of planning attacks abroad with a co-defendant.
US Secretary of State Marco Rubio revealed he has never had direct contact with Iranian Foreign Minister Abbas Araghchi, as talks mediated by regional powers continue. The US declared its military operation against Iran concluded, while a two-week ceasefire announced in April remains in question as Tehran does not recognize Washington's unilateral extension.