Also known as: Opec+ · the OPEC+ grouping · OPEC+ grouping
OPEC — organization from which the United Arab Emirates exited in 2026 after nearly 60 years of membership.
Verbatim sentences from the source article.
Joy Online
… Further supporting prices, OPEC+ is likely to halt oil output increases for three months starting in October, sources told Reuters, after the producer group completes the scheduled return of barrels following voluntary cuts.
Oil rises as US-Iran tension escalates after Iraq strikes, missile attackJoy Online
… Iraq grapples with the challenge faced by many oil-producing nations: attracting investment and expanding production while remaining constrained by the OPEC+ producers’ group output limits. …
Iraq’s oil minister says US energy deals worth about $200 billionJoy Online
… The United Arab Emirates raised crude output above 3.8 million bpd in June, its highest since April 2020 and above pre-Iran war levels, after leaving OPEC+ production quotas in May, according to Reuters estimates. …
Oil prices gain as focus shifts to supply recovery and demandJoy Online
… Kuwait’s oil production rose sharply to 1.65 million barrels per day in June from 580,000 bpd in May, a source familiar with the matter told Reuters on Thursday, as the OPEC member boosted exports following the U.S.-Iran interim peace agreement. …
Oil up slightly ahead of long US weekend as peace efforts holdJoy Online
… OPEC+ oil-producing countries will likely agree to a further hike in their output targets from August when they meet on Sunday, sources said on Wednesday. …
Oil falls for a third straight day after US, Iran talks conclude in DohaJoy Online
… Meanwhile, OPEC+ oil-producing countries will likely agree on a further hike in their output targets from August when they meet on Sunday, three sources said on Wednesday.
Oil prices fall 1% to 4-month lows as progress in US-Iran talks cools supply concernsJoy Online
… Alison-Madueke served as Nigeria’s petroleum minister between 2010 and 2015 and made history as the first female president of Opec, the oil exporters’ group. …
Former Nigerian oil minister Diezani Alison-Madueke acquitted of bribery after 13-year UK probeJoy Online
… Alison-Madueke, 65, was Nigeria’s oil minister between 2010 and 2015 and the first female president of the oil exporters’ group Opec. …
UK law enforcement destroyed my reputation and integrity, ex-Nigerian oil minister tells BBCJoy Online
… Alison-Madueke was Nigeria’s oil minister between 2010 and 2015 and the first female president of the oil exporters group Opec. …
Ex-Nigeria oil minister cleared in UK bribery trialJoy Online
… Underscoring the squeeze, OPEC output in May slid to its lowest level in over two decades, a Reuters survey showed, as a U.S. …
Oil rises more than $1 as escalation in US-Iran strikes unnerve tradersOil prices rose more than $3 a barrel on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia and the interception of Iran's ballistic missiles aimed at U.S. forces in the Middle East. Brent futures increased 3.9% to $87.39 a barrel, while U.S. WTI crude rose 3.8% to $82.31 a barrel.
29 July 2026 · Joy Online →
Oil prices rose more than $3 a barrel on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia and the interception of Iran's ballistic missiles aimed at U.S. forces in the Middle East. Brent futures increased 3.9% to $87.39 a barrel, while U.S. WTI crude rose 3.8% to $82.31 a barrel.
29 July 2026 · Joy Online →
Iraq's oil minister said agreements signed between the Iraqi oil ministry and U.S. companies during Prime Minister Ali al-Zaidi's U.S. visit are estimated at $200 billion and would add oil production capacity and increase investment in associated gas projects.
22 July 2026 · Joy Online →
Brent crude gained 0.39% to $72.29 and U.S. West Texas Intermediate rose 0.26% to $68.84 a barrel as traders shifted focus from easing Middle East tensions to supply increases and demand prospects. The U.A.E. raised crude output above 3.8 million bpd in June, its highest since April 2020, after leaving OPEC+ production quotas in May.
7 July 2026 · Joy Online →
Brent crude and West Texas Intermediate rose slightly on Friday before a long U.S. holiday weekend, as wary optimism held over peace efforts between the United States and Iran in the Middle East. Shipping has partially resumed through the Strait of Hormuz, and Gulf producers are ramping up production following an initial deal between the two countries.
3 July 2026 · Joy Online →
Oil prices dropped about 1% on Thursday following Qatar's announcement that US and Iran made progress in indirect talks focused on the Strait of Hormuz, with Brent crude falling to $70.80 per barrel and US West Texas Intermediate to $67.74, hitting four-month lows as expectations of oversupply pressure prices downward.
2 July 2026 · Joy Online →
Oil prices declined more than 1% on Wednesday to their lowest levels since March, with Brent crude settling at $71.57 a barrel and U.S. West Texas Intermediate at $68.58, as optimism over U.S.-Iran negotiations in Qatar eased supply concerns following President Trump's statement that talks had gone well.
1 July 2026 · Joy Online →
Former Nigerian Petroleum Minister Diezani Alison-Madueke has been found not guilty of bribery at a London court, ending a 13-year UK National Crime Agency investigation. Alison-Madueke, who served as petroleum minister from 2010 to 2015 and was the first female president of Opec, said the investigation cost her freedom of movement, her career, and her reputation.
23 June 2026 · Joy Online →
Diezani Alison-Madueke, former Nigerian oil minister, was acquitted of five bribery charges at Southwark Crown Court after a 13-year investigation by the UK's National Crime Agency. She said the investigation and prosecution destroyed her reputation, restricted her freedom to travel and work, and were "painful and traumatic."
23 June 2026 · Joy Online →
Diezani Alison-Madueke, Nigeria's oil minister from 2010 to 2015 and former Opec president, was found not guilty of accepting bribes from oil executives in the form of luxury stays and spending in the UK. Her brother and an oil industry executive were also acquitted in the trial at London's Southwark Crown Court.
17 June 2026 · Joy Online →
Oil prices jumped as Tehran declared the Strait of Hormuz closed following fresh U.S. strikes against Iran, with President Trump threatening further attacks. Brent futures rose 1.59% to $94.58 a barrel and U.S. crude climbed 1.90% to $91.74.
11 June 2026 · Joy Online →
Ratings agency Fitch has revised its forecast for Brent crude to US$87 per barrel, up from US$70, citing oil shocks as a headwind to world growth; the firm also examined an adverse scenario where oil prices could average US$100 per barrel in 2026 given persisting geopolitical uncertainties.
5 June 2026 · Joy Online →
Brent crude fell 0.22% to $95.24 a barrel and U.S. West Texas Intermediate dropped 0.11% to $92.94 a barrel on Friday, as prospects for a near-term end to the U.S.-Israeli war with Iran dimmed following Hezbollah's rejection of a ceasefire in Lebanon. Both contracts are set to post their first weekly gain in three weeks, with WTI up more than 6%, amid Middle East tensions and concerns about falling global oil inventories.
5 June 2026 · Joy Online →
Iraq has offered term buyers May-loading Basrah crude at steep discounts for loading inside the Strait of Hormuz, which has been largely blocked since the Iran conflict began. The discounts — $33.40 and $26 per barrel for Basrah Medium, and $30 per barrel for Basrah Heavy — reflect mounting pressure on Iraqi crude exports amid persistent shipping risks in the waterway.
6 May 2026 · Joy Online →
Brent oil prices rose as much as 7% on Thursday following reports that the U.S. is considering potential military action against Iran to break a deadlock in nuclear negotiations, raising concerns about further disruptions to Middle East energy exports. The June Brent contract rose $6.81 to $124.84 a barrel, with both Brent and WTI benchmarks on track for their fourth consecutive month of gains.
30 April 2026 · Joy Online →
President Donald Trump intensified threats against Iran over a maritime standoff in the Middle East affecting global energy markets, warning the Islamic Republic to "get smart soon" and signalling an end to patience regarding a blockaded Strait of Hormuz. The escalation follows collapsed diplomatic tracks and a recent joint military campaign targeting Iranian leadership and infrastructure.
29 April 2026 · Joy Online →
The United Arab Emirates is leaving OPEC and OPEC+ next month, citing the need for flexibility to meet growing global energy demand after recent investments in production capacity. Analysts describe the exit as potentially weakening the cartel, and the move is seen as aligning with US interests under President Donald Trump.
29 April 2026 · Joy Online →