FINWIRES · TerminalLIVE
FINWIRES

Update: UAE to Leave OPEC, OPEC+ on May 1

By

-- (Updates with confirmation from ADNOC chief executive in the second paragraph.)

The United Arab Emirates will leave the Organization of the Petroleum Exporting Countries and OPEC+, effective May 1, the Emirates News Agency said in a Tuesday statement.

The UAE has made a sovereign choice aligned with its long-term energy strategy, its true production capacity, and its national interests, while also considering global energy market stability, Abu Dhabi National Oil Co., or ADNOC, Chief Executive Sultan Al Jaber, who is also UAE minister of industry and advanced technology, said in a post on X.

This decision reflects the UAE's long-term vision and dynamic energy profile, including investments in domestic energy production, Suhail Al Mazrouei, minister of energy and infrastructure, said in a Tuesday post on X.

Upon departure, the UAE will bring additional production to market gradually based on demand conditions, and continue working with partners to drive economic growth and diversification, according to the state-owned news agency.

The UAE energy ministry, the Saudi energy ministry, OPEC, and IEA didn't immediately respond to requests for comment from.

Related Articles

Research

Research Alert: CFRA Lowers Rating On Amkor Technology Inc. To Strong Sell From Sell

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our price target from $32 to $51, 25x our 2026 EPS view, above AMKR's three-year average (~19x) on AI tailwinds. We lift our 2026 EPS view by $0.33 to $2.03 and 2027's by $0.05 to $2.30. Q1's results impressed, but we think shares' meteoric rise this year (+85%) more than reflects the potential upside associated with rising AI data center volumes (with related revenue likely to triple in 2026), while downside risk associated with the emerging memory shortage remains ignored despite vulnerabilities across AMKR's historically largest markets, Communications (44% of Q1 sales) and Auto/Industrial (21%). Given the company's nonexistent backlog, we think a downside surprise to 2H smartphone builds could swiftly reverse 1H's likely strength (including +42% for Communications in Q1), pressuring cash flow and necessitating more debt in order to fund AMKR's ambitious capex plans. Auto/Industrial's continued recovery (including +27% in Q1) also looks at risk of limited memory access, hurting volumes.

$AMKR
Insider Trading

Servicenow Insider Sold Shares Worth $799,868, According to a Recent SEC Filing

Jacqueline P Canney, Chief People and AI Enablement Officer, on April 24, 2026, sold 8,927 shares in Servicenow (NOW) for $799,868. Following the Form 4 filing with the SEC, Canney has control over a total of 29,531 shares of the company, with 29,531 common shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1373715/000164960926000019/xslF345X05/wk-form4_1777407136.xml

$NOW
Insider Trading

Msci Insider Sold Shares Worth $5,920,351, According to a Recent SEC Filing

Alvise J. Munari, Chief Product Officer, on April 24, 2026, sold 10,000 shares in Msci (MSCI) for $5,920,351. Following the Form 4 filing with the SEC, Munari has control over a total of 23,548 common shares of the company, with 23,548 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1408198/000210150326000009/xslF345X05/wk-form4_1777406449.xml

$MSCI