Business Brief (April 29): China Vows to Drive ‘AI+’ Initiative China grants zero-tariff treatment to African partners, BYD profit slumps Caixin Global · Apr 29
Oil prices rise despite UAE exit from OPEC as Iran war ceasefire hangs in balance Oil markets are navigating a period of unprecedented volatility after the UAE announced its withdrawal from OPEC and the OPEC+. Euronews · Apr 29
‘Take the money and run’: Johns Hopkins economist Steve Hanke on why the UAE quit OPEC The move didn’t surprise Hanke, who served on the UAE’s Financial Advisory Council from 2008 to 2014. Fortune · Apr 29
Russia struggles to contain ‘massive’ fire at oil refinery after third Ukrainian strike in two weeks Vladimir Putin points to strike on Black Sea port facility as evidence of growing attacks against civilian infrastructure The Independent UK · Apr 29
OPEC: UAE Leaves OPEC — What This Means for the Global Oil Economy OPEC faces uncertainty as UAE exit reports trigger concerns over oil supply stability and global economic ripple effects International Business Times UK · Apr 29
Oil prices decline after UAE says it will exit Opec amid Iran war energy crisis Asian stocks are mostly higher despite a retreat on Wall Street The Independent UK · Apr 29
ASX continues slide as inflation points to rate hike Resurgent inflation has increased the odds the Reserve Bank hiking the cash rate at its next meeting, with ongoing price growth to drag on company earnings. AAP · Apr 29
Trump news at a glance: president’s justice department sets sights on James Comey (again) New indictment marks latest instance in which Trump’s justice department has used its power to target president’s political enemies – key US politics stories from 28 April 2026 at a glance The Guardian - US · Apr 29
United Arab Emirates will leave OPEC in a blow to the oil cartel The United Arab Emirates will leave OPEC effective Friday, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices The Independent UK · Apr 29
Signs point to bumpy road for motorists in fuel crisis Higher fuel prices could be just weeks away as conflict in the Middle East drags on, with the nation's leaders committing to further crisis talks. AAP · Apr 28
UAE’s OPEC exit has been long in the works – and may mark the beginning of a Gulf realignment The United Arab Emirates’ decision to withdraw from the Organization of Petroleum Exporting Countries will leave the oil cartel weakened at a crucial time. It also illustrates the ongoing tensions between the UAE and Saudi Arabia, OPEC’s largest producer and de facto leader. The Conversation · Apr 28
Morning Mail: UAE quits Opec oil cartel, Pauline Hanson tops political leader approval ratings, King Charles addresses Congress Emirates shake global energy market with decision to leave Saudi-led group; Essential poll shows Pauline Hanson has highest leader approval ratings The Guardian - AU · Apr 28
What UAE's Shock OPEC Exit After Nearly Six Decades Means for Oil Prices and the World The UAE's decision to leave OPEC by May 2026 signals a major shift in global oil markets, influenced by geopolitical tensions and strategic national interests. International Business Times UK · Apr 28
UAE Quits OPEC Effective May 1: 10 Key Facts on Shocking Exit The United Arab Emirates announced Tuesday it will leave both OPEC and the broader OPEC+ alliance effective May 1, delivering a major blow to the oil producers' group and its de facto leader Saudi Arabia amid the ongoing Iran conflict that has severely disrupted Gulf energy exports. International Business Times · Apr 28
Barchart · Apr 28 Tighter Global Oil Supplies Underpin Crude Prices June WTI crude oil (CLM26 ) on Tuesday closed up +3.56 (+3.69%), and June RBOB gasoline (RBM26 ) closed up +0.0623 (+1.85%). Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude oil posting a 2-week high, and gasoline posting a 3.75-year high. Crude prices...
The Independent UK · Apr 28 Decision by the UAE to leave OPEC shakes up alliance that influences oil prices worldwide The decision by the United Arab Emirates to leave the OPEC oil cartel shook up the 65-year-old alliance that produces some 40% of the world’s crude oil and exerts major influence over the price of energy around the globe
The Guardian - UK · Apr 28 How the UAE’s decision to leave Opec could recast the Middle East Defection is damaging to Saudi Arabia’s prestige – and could strengthen the US hand in the region
The Times of India · Apr 28 Trump claims Iran collapse while Teheran sees leverage as Hormuz stand-off tightens TOI correspondent from Washington: US President Donald Trump on Tuesday claimed that Iran is “in a state of collapse” and is urgently pleading with Washington to reopen the Strait of Hormuz, projecting an image of a weakened adversary desperately seeking relief. But developments on the ground suggest a far more…
Barchart · Apr 28 Why the Real Story Behind the UAE’s OPEC Exit is Petrodollar Diplomacy With Emirati energy infrastructure taking hits from the Iran war, Treasury Secretary Bessent tries to stave off the ‘petroyuan’ era.
Evening Standard · Apr 28 FTSE 100 edges higher but US tech stocks wobble The index closed up 11.70 points at 10,332.79.
International Business Times UK · Apr 28 OPEC Suffers Stunning Blow as UAE Abandons Oil Cartel Following Strategic Pivot Toward Independent Production The United Arab Emirates' exit from OPEC sparks claims of 'the beginning of the end' for the group, unfolding amid Iran War–driven turmoil and uncertainty in the global oil industry.
The Guardian - UK · Apr 28 UAE quits Opec in win for Trump as oil cartel weakened US president has accused organisation of ‘ripping off the rest of the world’ by inflating oil prices
Barchart · Apr 28 Crude Prices Strengthen as Global Oil Supplies Tighten with Strait of Hormuz Closed June WTI crude oil (CLM26 ) today is up +3.13 (+3.25%), and June RBOB gasoline (RBM26 ) is up +0.0241 (+0.72%). Crude oil and gasoline prices are sharply higher for a second day today, with crude oil posting a 2-week high, and gasoline posting a 3.75-year high. Crude prices continue...
Axios · Apr 28 UAE leaves OPEC to pursue "accelerated" production The departure will make it tougher for OPEC to control output and prices.