Brent Crude Falls More Than 11% as Risk Premium Unwinds
Brent crude oil plunged more than 11% as easing geopolitical concerns reduced fears of supply disruptions.
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Brent crude oil plunged more than 11% as easing geopolitical concerns reduced fears of supply disruptions.
The UAE will exit OPEC and OPEC+ from May 1, aiming to increase oil production and better align with shifting global energy demand.
OPEC+ confirmed it will suspend oil production increases in the first quarter of 2026 to maintain market stability.
OPEC+ keeps output steady for early 2026 and adopts a new capacity assessment mechanism for setting baselines from 2027.