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Modi Launches Five-Nation Energy Security Sprint Across Europe and the UAE

Modi Launches Five-Nation Energy Security Sprint Across Europe and the UAE

Prime Minister Narendra Modi will travel May 15-20 to the UAE, Netherlands, Sweden, Norway, and Italy in a tightly timed push for energy security amid West Asia tensions and the closure of the Strait of Hormuz, which has rattled global fuel markets. The tour starts in Abu Dhabi for energy-focused talks with UAE President Mohamed bin Zayed Al Nahyan. It then moves to the Netherlands for broader strategic cooperation, and to Sweden and Norway for the 3rd India-Nordic Summit on green hydrogen, the blue economy, and Arctic ties.

Summarised by Beize from a story on Republic on 14 May 2026
India Oman FTA to start June 1 2026 bringing duty free access for most exports

India Oman FTA to start June 1 2026 bringing duty free access for most exports

India and Oman are set to bring their free trade agreement into force on June 1, 2026. The deal is expected to give India duty-free access to 98 percent of its exports to Oman, boosting trade ties. At the same time, India is pursuing a broader economic partnership with Chile, prioritizing critical minerals needed for electronics and auto supply chains.

Summarised by Beize from a story on The Economic Times on 12 May 2026

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Oil prices edge higher as US Iran talks underline real supply risk near Hormuz

Oil prices edge higher as US Iran talks underline real supply risk near Hormuz

Oil prices rose slightly in early Asian trade as fragile US-Iran negotiations revived worries about crude supply disruptions, especially around the Strait of Hormuz. Tehran’s response signaled deep differences, while reduced output from OPEC helped keep prices steady above $100. The US also plans SPR loans and sanctions targeting Iranian shipments to curb market pressure.

Summarised by Beize from a story on The Economic Times on 12 May 2026
OPEC Plus meets for first quotas after UAE exit as oil prices stay elevated

OPEC Plus meets for first quotas after UAE exit as oil prices stay elevated

Seven OPEC+ nations are meeting to set oil production quotas for the first time after the UAE exited the group. With the Middle East conflict already lifting prices, markets expect only a small supply increase. But actual production is reportedly running below limits because blockades are constraining output.

Summarised by Beize from a story on The Economic Times on 6 May 2026
UAE exits OPEC and warns Strait of Hormuz must stay open after drone attack

UAE exits OPEC and warns Strait of Hormuz must stay open after drone attack

The UAE says it has exited OPEC and OPEC+ as a sovereign choice, hours after an ADNOC tanker was struck by Iranian drones in the Strait of Hormuz. UAE officials condemned the incident as a terrorist attack and urged the shipping chokepoint to remain open, warning that closures could destabilize global trade and energy markets.

Summarised by Beize from a story on The Economic Times on 4 May 2026
ADNOC pledges 55 billion for new projects after UAE exits OPEC

ADNOC pledges 55 billion for new projects after UAE exits OPEC

ADNOC has pledged $55 billion for new projects over the next two years, shortly after the UAE officially left OPEC. The announcement comes after decades of OPEC membership tied to Abu Dhabi’s role since 1967, highlighting how the UAE plans to reshape its energy strategy immediately following the cartel exit.

Summarised by Beize from a story on The Economic Times on 4 May 2026

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UAE quits OPEC and OPEC+ exposing a widening Saudi rift in Gulf oil power

UAE quits OPEC and OPEC+ exposing a widening Saudi rift in Gulf oil power

The UAE’s decision to quit OPEC and OPEC+ has thrust long-simmering tensions with Saudi Arabia into the open, signaling a shift away from Saudi-led oil governance. Analysts say Abu Dhabi is prioritizing autonomy as the Gulf’s power balance reshapes amid the Iran war, turning an OPEC exit into a broader geopolitical rupture.

Summarised by Beize from a story on Republic on 4 May 2026
Brent crude races toward 150 as WTI spikes hard and tensions loom

Brent crude races toward 150 as WTI spikes hard and tensions loom

Brent crude has surged past $120 and briefly touched $126, while WTI pushed above $110, nearly doubling from late February levels. Analysts say the speed and urgency of the move signal deeper stress in global supply and risk pricing. The article weighs whether US-Iran tensions or an UAE OPEC exit is driving the oil and gas jump.

Summarised by Beize from a story on The Economic Times on 4 May 2026
OPEC+ likely to raise oil output again as Hormuz choke point tightens

OPEC+ likely to raise oil output again as Hormuz choke point tightens

OPEC+ is reportedly set to approve its third oil supply increase since disruptions tied to the Strait of Hormuz. With U.S.-Iran tensions threatening key Gulf routes, the move could be largely symbolic as exports face severe constraints. Oil prices have already jumped, and analysts warn of potential jet fuel shortages and further global inflation pressure.

Summarised by Beize from a story on The Economic Times on 3 May 2026
Hormuz blockade pushes Brent to 125 as fragile ceasefire fails to calm oil fears

Hormuz blockade pushes Brent to 125 as fragile ceasefire fails to calm oil fears

Brent crude has jumped to $125 a barrel as the Strait of Hormuz faces escalating West Asia conflict, with naval tensions and tanker blockades disrupting nearly one fifth of global oil flows. Even with ceasefire talks underway, OPEC fragmentation and uncertainty around UAE supply keep prices volatile. India and China are diversifying, but sustained highs could stoke inflation and recession fears.

Summarised by Beize from a story on The Economic Times on 3 May 2026

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UAE quits OPEC in power shift aimed at breaking Saudi oil dominance

UAE quits OPEC in power shift aimed at breaking Saudi oil dominance

The UAE has exited OPEC and OPEC+, dealing a major blow to long-running Saudi influence over regional oil markets. Analysts frame the move as a “political rebellion,” driven by the UAE’s push for market share and an independent foreign policy toward the US, Israel and Asia. The strategy also targets monetizing oil reserves before they become stranded assets and using proceeds to fund a green transition.

Summarised by Beize from a story on The Economic Times on 2 May 2026
Venezuela oil exports surge 14 percent to seven year high after US deal and sanctions easing

Venezuela oil exports surge 14 percent to seven year high after US deal and sanctions easing

Venezuela’s oil exports jumped 14% in April to 1.23 million barrels per day, the highest level in more than seven years. The rise was driven by stronger sales to the US, India, and Europe after a US–Venezuela supply arrangement and eased sanctions. Output improved and inventories were cleared, lifting shipments across multiple markets.

Summarised by Beize from a story on The Economic Times on 1 May 2026
UAE quits OPEC but the real shock may be downstream for oil prices and India supply

UAE quits OPEC but the real shock may be downstream for oil prices and India supply

The UAE has exited OPEC, disrupting a long-standing production alignment that typically steadies global oil markets. While the immediate effect may be muted, the UAE’s increased production capacity could ease prices over time. The move may also trigger reconsideration by other producer states about their OPEC membership, with implications for buyers including India.

Summarised by Beize from a story on The Economic Times on 1 May 2026
UAE to exit OPEC and OPEC+ May 1 as Iran crisis tightens oil supply fears

UAE to exit OPEC and OPEC+ May 1 as Iran crisis tightens oil supply fears

The UAE says it will exit OPEC and OPEC+ effective May 1, sending another jolt through an already tight global energy market. The decision comes as tensions around the Iran conflict and the Strait of Hormuz raise fears of severe supply disruptions. With OPEC and OPEC+ shaping nearly half of global output, the move threatens fresh volatility for crude prices.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026

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Oil rockets as Iran tensions flare and blockades loom will Brent and WTI keep climbing

Oil rockets as Iran tensions flare and blockades loom will Brent and WTI keep climbing

Oil prices surged as reports of potential US military action against Iran and a long blockade of Iranian ports intensified supply fears. With the Strait of Hormuz under threat and talks stalled, Brent jumped above $125 and US WTI above $109. Investors now watch demand-destruction concerns and OPEC+ output decisions for clues on whether the rally holds or reverses.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026
UAE Quits OPEC and Rewrites the Oil Map Via Fujairah and the Dollar

UAE Quits OPEC and Rewrites the Oil Map Via Fujairah and the Dollar

UAE’s exit from OPEC signals a major shift away from cartel quotas toward a market-driven, route-focused oil system. Rather than immediately flooding markets, the move strengthens the UAE’s flexibility and independence—especially through Fujairah, enabling supplies to avoid risks tied to the Strait of Hormuz. The underlying implication: growing influence of dollar-linked trade and competition.

Summarised by Beize from a story on Republic on 30 Apr 2026
UAE exits OPEC after 60 years setting up a new oil pricing race for India

UAE exits OPEC after 60 years setting up a new oil pricing race for India

The UAE has announced it is leaving OPEC after six decades, shaking the cartel-style supply discipline that has long influenced oil pricing. Analysts say the shift could loosen the Saudi-Russian grip and reshape global flows—potentially improving India’s energy security by enabling more flexible bilateral deals rather than relying on quota-linked arrangements.

Summarised by Beize from a story on Republic on 30 Apr 2026
Trump praises UAE quitting OPEC and OPEC+ saying it could push oil prices lower fast

Trump praises UAE quitting OPEC and OPEC+ saying it could push oil prices lower fast

US President Donald Trump on April 30 welcomed the UAE’s decision to leave the OPEC and OPEC+ alliance, saying the shift could help lower global oil and gas prices. Trump praised UAE leadership and framed the move as a smart strategy, while linking the development directly to potential price relief for markets worldwide.

Summarised by Beize from a story on Republic on 30 Apr 2026

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Oil prices rise again as US Iran deadlock keeps Middle East supply off market

Oil prices rise again as US Iran deadlock keeps Middle East supply off market

Oil prices extended their gains as the US Iran conflict drags on, with negotiations stalled and supply disruption risks growing across the Middle East. The Strait of Hormuz remains largely blocked, tightening flows through a key shipping chokepoint. Separately, the UAE’s exit from OPEC is expected to weaken the group’s ability to manage prices.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026
Oil Slides as UAE Quits OPEC but Brent Holds Near 111 Amid Iran Blockade Fears

Oil Slides as UAE Quits OPEC but Brent Holds Near 111 Amid Iran Blockade Fears

Crude prices slipped on Wednesday after the UAE’s surprise exit from OPEC, a move markets interpreted as a potential path to higher supply by freeing the country from production quotas. Still, Brent stayed close to $111 as investors weighed ongoing supply disruption risks tied to the Iran conflict and an extended blockade threat near Hormuz.

Summarised by Beize from a story on Republic on 29 Apr 2026
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