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Adnoc Boss Says UAE's OPEC, OPEC+ Departure Served National Interests

Abu Dhabi National Oil Co., or Adnoc, Chief Executive Sultan Al Jaber said the United Arab Emirates' decision to leave the Organisation of the Petroleum Exporting Countries served national interests and the country's long-term strategic objectives.Speaking at the Make It In The Emirates conference, Jaber said the move was "not a decision directed ​against anyone," adding that it would allow the country to accelerate investment, ⁠expand and create value, Reuters reported Monday.

Adnoc Awards AED200 Billion Contracts for Projects Until 2028

Abu Dhabi National Oil Co., or Adnoc, gave out contracts totaling 200 billion Emirati dirhams for its projects from 2026 to 2028, as part of its five-year capital expenditure plan.The awarded agreements at the Make it With ADNOC forum aim to boost the state-owned oil group's upstream and downstream operations, as well as its production capacity, according to a Sunday release.Additionally, the contracts also support the group's In-Country Value program and the United Arab Emirates' Make it in the Emirates initiative.

UAE Stocks in Green as US-Iran War Risks Resurface

Markets in the United Arab Emirates ended the last trading day of the week on a positive note despite investors adopting a risk-off stance due to renewed fears of escalation between the US and Iran.At the close of Friday trading, the FTSE ADX General Index gained 0.110%, while the DFM General Index ended somewhat muted but 0.014% in the green.Oil prices rose on Friday after multiple media outlets reported that Iran threatened to strike US positions if the latter decided to renew its attacks. A previous report by Axios noted that US President Donald Trump was set to receive a briefing on new military action against Iran."We're heading towards another weekend of potential uncertainty, with Friday, 1 May, seen in the minds of many as something of a key day by which some move needs to happen between the US and Iran with respect to a deal of sorts. Hope is fading on this, which risks seeing the pendulum swinging back in the direction of a resumed kinetic outcome. That would not be great for markets, which would prefer a quick reopening of the Strait, even on a bad deal," ING said.As of 3:21 pm UAE time, the Brent crude oil futures stood at nearly $110.89 per barrel, up 0.44% from the previous day.Zooming in at home, the UAE Central Bank launched a service for non-resident visitors to open digital bank accounts using their tourist identity. The initiative was launched in collaboration with the Federal Authority for Identity, Citizenship, Customs and Port Security and Abu Dhabi Commercial Bank (ADX:ADCB).Over to corporates, Pure Health (ADX:PUREHEALTH) reported a decline in its first-quarter attributable profit. Shares of the Abu Dhabi-listed healthcare services company closed the session 0.47% in the green.Elsewhere, Dubai Financial Market's (DFM:DFM) attributable profit for the same quarter jumped to 177.7 million Emirati dirhams backed by a 36% year-over-year growth in revenue. The stock exchange operator's shares ended 0.70% higher at trading's close.Looking ahead to next week, the local economic calendar will see the release of the country's S&P Global Purchasing Managers' Index report for April. The indicator fell to 52.9 in March.

UAE Equities Fall; Central Bank Holds Base Rate Steady

Emirati stocks closed Thursday's trading session in the red as investors dissect the US Fed decision, which, as a result, also saw the United Arab Emirates Central Bank keeping its base rate steady.At the close of trading, the FTSE ADX General Index shed 1.237%, while the DFM General Index lost 1.625%.The UAE Central Bank on Wednesday kept the base rate applicable to the overnight deposit facility at 3.65% and the interest rate applicable to borrowing short-term liquidity at 50 basis points above the base rate for all standing credit facilities.The move aligns with the US Federal Reserve's decision to keep the interest rate on reserve balances unchanged, as the Emirati dirham is pegged to the US dollar."In our opinion, the uncertain geopolitical environment may inject more uncertainty into the ultimate path of the federal funds rate. A deepening divide on the Committee shows that a growing number of members favor a more neutral bias supporting our outlook for no federal fund rate changes this year. Ultimately, the economic data will impact the timing of any Fed rate cuts. The Fed stated that the implications of developments in the Middle East for the U.S. economy are contributing to a high level of uncertainty about the economic outlook," the Wells Fargo Investment Institute said in a note.The corporate side of the region saw a fresh batch of first-quarter earnings reports including those from Borouge (ADX:BOROUGE) and NMDC Group (ADX:NMDC), with both companies reporting lower attributable profits. Their stocks closed flat and 3.52% in the red, respectively.Drake & Scull International (DFM:DSI) began the construction phase of the Majan Project in Dubai and aims to finalize it in the first quarter of 2028. Its shares closed the session 1.235% lower.On the geopolitical front, Bloomberg News reported Thursday, citing Axios, that US President Donald Trump will receive a briefing on new military action on Iran, sparking escalation concerns between the two countries.

Wood Mackenzie: UAE's OPEC, OPEC+ Withdrawal Could Increase Oversupply Risk

The United Arab Emirates' decision to withdraw from the Organisation of the Petroleum Exporting Countries potentially leads to a higher risk of oversupply in the oil market and lower prices over the medium term, according to Wood Mackenzie.In an analysis published Wednesday, the research firm said it expects the exit's near-term impact on global oil markets to be limited. However, the supply dynamics from 2027 are anticipated to be affected, with the UAE, which accounts for an estimated 14% of OPEC's capacity, being able to take a higher share of oil demand."UAE's departure from OPEC will have minimal impact on market fundamentals in 2026, even if the Strait of Hormuz reopens. Gulf countries, including the UAE, will take months to return to pre-war production volumes. Beyond this year, losing the UAE will compound OPEC's challenge to balance the market and increase the risk of oversupply weakening prices," Chairman and Chief Analyst at Wood Mackenzie Simon Flowers said. The firm also said the UAE's decision also marks "the most significant fracture" in the oil producer group's history.The UAE government announced that it will be leaving both OPEC and OPEC+, effective May 1.

Emirati Shares in Green as UAE Exits OPEC; Fertiglobe Surges on Upbeat Q1 Earnings

Stock trading in the United Arab Emirates ended Wednesday higher as the FTSE ADX General Index was up 0.668%, while the DFM General Index was little changed at 0.059% in the green.Dominating headlines, the UAE decided to exit the Organisation of the Petroleum Exporting Countries and the wider OPEC+ on Friday following a comprehensive review of its production policy and existing and future capacity."OPEC and OPEC+ have only ever been as strong as the members' willingness to hold barrels back from the market, and the UAE was one of those. Losing a member with 4.8 million barrels per day of capacity, and the ambition to produce more, takes a real tool out of the group's hands," Rystad Energy head of geopolitical analysis Jorge Leon commented. "While near-term effects may be muted given ongoing disruption in the Strait of Hormuz and broader geopolitical uncertainty, the longer-term implications are more consequential."Turning to corporate news, Fertiglobe (ADX:FERTIGLB) logged a first-quarter attributable profit and revenue growth of 173% and 32%, respectively. Its shares closed the session 10.32% in the green.Dubai-listed Tecom Group (DFM:TECOM) closed the session 1.20% higher after reporting an increased profit and revenue for the first quarter, backed by higher occupancy rates across its commercial and industrial assets and strategic investments.Across the pond, markets will await the release of the US Federal Reserve's interest rate verdict later in the day, and as widely expected, the federal funds rate will be kept steady in the 3.50% to 3.75% range. The Federal Open Market Committee meeting is also expected to be Fed Chair Jerome Powell's final meeting, with US President Donald Trump's nominee Kevin Warsh expected to replace him."There is a good chance the Fed will signal it's still too early to conclude the inflation-growth trade-off and related monetary policy implications. However, the latest signs from the Middle East are not encouraging. While Powell's signals may be taken with some caution, given that this should be his last press conference, the risks are that he errs on the hawkish side," ING said.

UAE's OPEC Exit to Have Limited Near-term Impact, Watchers Say

The United Arab Emirates' impending exit from the Organization of the Petroleum Exporting Countries on Friday deals a heavy blow to the oil-producing cartel but is unlikely to lead to a breakup of the group or have a significant near-term impact on crude prices, industry watchers say.The timing of the UAE's departure from OPEC and OPEC+ was planned well, ING analysts said Wednesday, noting that announcing the move amid a period of significant oil supply disruptions cushions its market impact. "Had this been announced any other time, we would likely have seen more downward pressure on oil prices."The UAE has long pushed for greater crude production but was trumped by OPEC production quotas in recent years. The departure will give the country freedom to boost output, with current production capacity of nearly 4.9 million barrels per day and plans to reach 5 mb/d by 2027."However, before this can be tapped, there must be a resolution in the Persian Gulf that allows for uninhibited energy flows through the Strait of Hormuz once again," ING added. "Therefore, in the short term, this development has little impact on the market. But in the medium to longer term, it means more supply for the market."As OPEC's 11 other members have not shown signs of following in the UAE's footsteps, analysts agree that the cartel will remain, albeit with reduced power in the oil market."While much remains in the air regarding how the war ends, we do not think that [Tuesday's] announcement portends a broader breakup in the producer group, especially as there is no near-term need for any OPEC production cuts and many members will be focused on building back capacity post-conflict," RBC Capital Markets said Tuesday.The exit is also likely a harbinger of joint investments between the UAE and Israel, signaling a "broader strategic realignment in the region," RBC said."Given there will be increased focus on energy security post-war, we anticipate a closer partnership between Israel and Abu Dhabi in this arena going forward. We will be looking for joint investment announcements around critical de-risking infrastructure projects as well as additional defense cooperation agreements, including core priority areas such as the Red Sea."

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

(Updates to add the UAE energy minister's statement)The United Arab Emirates will exit the Organisation of the Petroleum Exporting Countries, with effect from May 1, the WAM news agency reported Tuesday.The country decided to leave both OPEC and OPEC+, taking into account its national interest following a review of its production policy, as well as its existing and future capacity, according to the report.Following the report, UAE Energy Minister Suhail Mohamed Al Mazrouei said in a post on social media platform X that the decision "reflects a policy-driven evolution aligned with long-term market fundamentals."The move comes amid energy market volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz.

UAE to Exit OPEC, OPEC+ on May 1

The United Arab Emirates will exit the Organisation of the Petroleum Exporting Countries, with effect from May 1, the WAM news agency reported Tuesday.The country decided to leave both OPEC and OPEC+, taking into account its national interest following a review of its production policy, as well as its existing and future capacity, according to the report.The move comes amid energy market volatility, including disruptions in the Arabian Gulf and the Strait of Hormuz.

UAE to Exit OPEC, OPEC+ on May 1

UAE Shares Diverge as Oil Prices Rise Amid Uncertainty Over US-Iran Conflict

Emirati shares struggled to find direction on Tuesday as continued uncertainty over the reopening of the Strait of Hormuz drove oil prices up.At the close of trading, the FTSE ADX General Index was little changed at 0.080% in the green, while the DFM General Index was down 0.218%.According to reports from various media outlets, US President Donald Trump is not satisfied with Iran's new proposal, which consisted of reopening the Hormuz waterway and postponing negotiations over its nuclear program to a later stage."We doubt that the US will go for this, since the US's economic blockade of the Iran remains its key 'pressure tactic' in making Iran concede to the US's fundamental demands pertaining to Iran's power. Yet that it is Iran that is making the proposal suggests that the pressure from the US's economic blockade is being felt, and that the US may not need to invoke its military power again," Macquarie said in a note. " To the US administration, the economic blockade of Iran is intended to have that very effect, i.e., of causing revenue losses that lead to monetary inflation and, ultimately, instability within the regime, and leading to concessions from Iran on the fundamental issues that the US has raised."As of 3:51 pm UAE time, the Brent crude oil futures stood at nearly $112.374 per barrel, up 3.81% from the previous day.Back home, the local economic calendar will see the release of the interest rate decision from the Central Bank of the United Arab Emirates later in the week, following the US Federal Reserve's verdict on its federal funds rate on Wednesday.In corporate news, Aldar Properties (ADX:ALDAR) released its first-quarter earnings report. The real estate developer reported a 12% annual growth in its revenue but closed the trading session 0.37% in the red.Elsewhere, shares of Dubai Investments (DFM:DIC) lost 0.97%. The Dubai-listed investment company declared plans to sell a 24% stake in its unit, Dubai Investments Park, through an initial public offering and distribute improved dividends in 2026, subject to completion of the offering.

Market Chatter: Adnoc Said to Shift Some Crude Loadings to Offshore Fujairah

Abu Dhabi National Oil Co., or Adnoc, is offering some term customers crude cargoes, including Upper Zakum, for pickup through ship-to-ship transfer offshore Fujairah, United Arab Emirates.Bloomberg News wrote Tuesday, citing unnamed traders, that Upper Zakum, a grade that typically loads from Zirku Island within the Persian Gulf, alongside other cargoes, will be mainly available for loading in May. The move comes as producers explore alternative routes to bring oil to market.The state-owned oil group did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Adnoc Plans Billions in US Investments to Build Gas Business

Abu Dhabi National Oil Co., or Adnoc, is looking to invest tens of billions of dollars to develop a gas business in the US as part of a diversification push due to energy disruptions amid the US-Iran war.The state oil and gas company is exploring deals, including drilling joint ventures and minority stakes, London's Financial Times reported Tuesday, citing an interview with Nameer Siddiqui, the chief investment officer of Adnoc's overseas investment arm XRG. The company is looking at 29 potential deals in the US to set up a vertically integrated gas business, Siddiqui said.XRG's acquisitions could span the entire value chain from extracting gas to owning re-gas facilities and pipelines to end users in destination countries, Siddiqui told the publication.

Emirati Shares Start US Fed Week Upbeat; Dubai Residential REIT Gains

Stocks in the United Arab Emirates kicked off a new trading week in the green as investors shifted their focus to the US Federal Reserve's closely watched interest rate decision due later in the week.At the close of Monday trading, the FTSE ADX General Index added 0.397%, while the DFM General Index gained 0.281%.On the economic calendar this week is the release of the US Fed interest rate decision on Wednesday, with analysts expecting the federal funds rate to remain unchanged within the 3.50% to 3.75% range. Other major central banks in Japan, Canada, and England will also announce their interest rate policies this week."Faced with rising energy prices and higher inflation, and both consumption and employment holding up, the Fed will have to tread carefully to avoid making the mistakes of 2022. There is no way the Fed is in a position to signal the 'all-clear' on inflation, and with equity markets at their highs, the Fed may be inclined to warn of the need for rates to stay unchanged for longer," ING said.On the geopolitical front, US President Donald Trump canceled the visit of his officials to Pakistan scheduled for the weekend, stating that Iran would need to call if they want to continue negotiations. Reuters reported, citing US news outlet Axios, that Iran offered a new proposal to the US to open the Strait of Hormuz and to postpone talks related to the former's nuclear program to a later stage.Back home and on the corporate front, Emirates Driving Co. (ADX:DRIVE) reported a higher attributable profit and a 13% increase in revenue due to high student enrollments. The Abu Dhabi-listed driver training school operator's stocks closed the session 0.67% higher.Dubai Residential REIT (DFM:DUBAIRESI) added 2.61% after its first-quarter revenue jumped 8.4% year-on-year, backed by strong leasing activity and growth in the real estate investment trust's core residential segments.

UAE Indices Snap Losing Streak Amid Renewed Hopes for US-Iran Peace Talks

Emirati equities broke a losing streak on the last trading day of the week as the FTSE ADX General Index added 0.432%, while the DFM General Index gained 0.691% at the close of Friday trading.Global market sentiment was once again bolstered by renewed optimism on continued US-Iran peace talks after a Reuters report said Iranian Foreign Minister Abbas Araqchi is due to arrive in Pakistan on Friday night. Citing a government source, the news outlet added that a US logistics and security team is already in Islamabad.Brent crude oil futures hovered at $104.28 per barrel at 3:58 pm UAE time on Friday, down 0.75% from the previous day.Meanwhile, the International Energy Agency said global liquefied natural gas output dropped 8% year over year due to attacks on Middle Eastern oil and gas infrastructures, with total supply losses of 20 billion cubic meters expected for the period between March and April from Qatar and the UAE."The Middle East conflict has already caused the loss of around 120 bcm of cumulative LNG supply for the period 2026-2030 when considering the combined effect of the near-term supply disruptions and the medium-term implications for supply. The losses resulting from the Middle East conflict account for around 15% of the expected global LNG supply over the 2026-30 period and, as such, will ultimately be offset by the start-up of new liquefaction facilities through the medium term," the IEA commented in its second-quarter gas market report.On the corporate side, the region saw the release of Sudatel Telecommunications Group's (ADX:SUDATEL) full-year 2025 earnings report, in which the telecommunications and internet services company posted a revenue of $452.5 million, its highest over the past six years. Its shares closed the session 1.81% in the green.Elsewhere, Dubai Investments (DFM:DIC) secured shareholders' approval to distribute a cash dividend of 0.25 Emirati dirham per share for 2025, sending the investment company's shares 1.26% higher at closing.

UAE Shares End Lower; Oil Prices Rise as US-Iran Peace Talks Stall

Shares in the United Arab Emirates closed in the red as oil prices rose amid no signs of a resolution of the conflict between the US and Iran.At the close of Thursday trading, the FTSE ADX General Index lost 0.399%, while the DFM General Index was little changed at 0.034% in the red."[The] absence of any peace talks between the US and Iran has led investors to price in a longer conflict again, along with a more extended closure of the Strait of Hormuz. Indeed, the US blockade is still in place, and yesterday Iran said they'd seized two commercial ships in the Strait. So if anything, the latest moves pointed in an escalatory direction," Deutsche Bank Research commented.As of 3:50 pm UAE time, the Brent crude oil futures stood at nearly $102.604 per barrel, up 0.68% from the previous day.Back home and on the corporate front, the bourses saw the release of the first-quarter earnings report from the financial sector.Abu Dhabi Commercial Bank (ADX:ADCB) reported a higher attributable profit of 3.36 billion Emirati dirhams backed by an 18% year-over-year growth in operating income. On the other hand, First Abu Dhabi Bank's (ADX:FAB) attributable profit for the period slipped. Shares of the lenders ended the session flat and 2.11% in the red, respectively.Dubai-listed Emirates NBD (DFM:EMIRATESNBD) lost 0.14% despite solid first-quarter results backed by an increase in income and asset growth, efficient cost management, and record nonfunded income growth."Emirates NBD delivered a 21% higher income yoy of AED 14.4 billion, propelled by strong loan growth and a record non-funded income growth," Emirates NBD Group Chief Executive Officer Shayne Nelson commented. "The Group's balance sheet continues its growth momentum, with total assets exceeding AED 1.2 trillion, driven by strong lending growth of AED 45 billion in the first quarter of 2026," Nelson further added.

Abu Dhabi, Dubai Shares Fall; US Extends Iran Ceasefire

Emirati shares ended Wednesday's trading session in the red as investors remained cautious amid the uncertainty over peace talks between the US and Iran.At the close of trading, the FTSE ADX General Index was down 0.764%, while the DFM General Index dropped 1.059%.US President Donald Trump said that he extended the ceasefire with Iran and will continue with the blockade of its ports until a "unified proposal" is submitted and discussions are finalized.Meanwhile, Iranian Foreign Minister Seyed Abbas Araghchi said in a social media post that the blockade of Iran's ports is an "act of war" and a violation of the ceasefire agreement. Araghchi also mentioned that the country knows how to neutralize these restrictions."War headlines remain very inconclusive. President Trump's announcement of a last-minute ceasefire extension likely validates some degree of optimism that hasn't left USD crosses despite the deadline approaching. But the situation in the Strait of Hormuz remains as unclear as ever, with the US blockade still in place and reports that a UK container ship was shot at by the Iranians yesterday," ING said.Back home and on the corporate front, Palms Sports (ADX:PALMS) closed 2.69% lower. The sports management company reported a higher first-quarter attributable profit of 18.6 million Emirati dirhams, backed by a growth in contract expansions and effective cost management.Over in Dubai, BHM Capital Financial Services (DFM:BHMCAPITAL) approved a total shareholder distribution of 20%, comprising 5% cash dividends and 15% bonus shares, for 2025. Shares of the financial services group were 5.51% in the green at closing.

Emirati Equities Gain on US-Iran Peace Talks Optimism

Stock trading in the United Arab Emirates ended in the green on Tuesday, buoyed by positive sentiment regarding the resumption of peace talks between the US and Iran.At the close of trading, the FTSE ADX General Index was up 0.197%, while the DFM General Index added 0.276%.Oil prices dropped 0.36% to $95.129 per barrel on Tuesday at 3:43 pm UAE time amid reports from multiple media outlets that the US and Iran will resume their peace talks on Wednesday."Negotiations between the US and Iran are set to resume in Pakistan, with US Vice President JD Vance set to attend. It appears Iran will send a delegation too. This follows earlier suggestions that Iran wouldn't attend as long as the US blockade continues. These talks are important, with the current ceasefire set to end on Wednesday," ING said. "President Trump has suggested he is unlikely to extend the ceasefire. Therefore, a lack of progress would likely push oil and gas prices higher. This would create significant uncertainty over when energy flows through the Strait of Hormuz might return to normal."Back home, the Dubai International Financial Centre, or DIFC, plans to integrate artificial intelligence across its legal and regulatory frameworks, operations, and talent development systems, becoming the first AI-native financial center globally.Over to corporates, shareholders of Dana Gas (ADX:DANA) approved the distribution of a cash dividend of 0.065 Emirati dirham per share for 2025. Shares of the natural gas company closed the session 2.66% higher.Deyaar Development (DFM:DEYAAR) stocks ended 0.80% in the red at closing. The real estate group handed over three residential and hospitality projects comprising a total of 1,436 units in Dubai.

UAE Indices Close Lower as Geopolitical Jitters Resurface

Emirati equities began the new trading week in the red as renewed tensions between the US and Iran over the blockade of the Strait of Hormuz dampened investor sentiment.At the close of Monday trading, the FTSE ADX General Index lost 0.799%, while the DFM General Index declined 2.093%.The latest developments related to the Middle East conflict diminished hopes of a resolution after the US seized an Iranian cargo vessel. Iran responded by saying that it does not plan to pursue further peace talks with the US.Meanwhile, US President Donald Trump said in a social media post that they are offering Iran a "fair and reasonable" deal and threatened to strike its energy infrastructure if they do not accept it."In terms of the immediate focus, the question is whether investors will receive further positive news on renewed peace talks in Pakistan, or whether both sides will talk tough and potentially act tougher ahead of tomorrow's deadline on the two-week ceasefire. Today's benchmark of any progress will probably be whether Iran sends any negotiators to peace talks, now that US representatives are already on their way there. The mood music of markets is one of concern, but one that sees progress towards a resolution," ING said.Zooming in at home, ADGM, Abu Dhabi's international financial center, and Futian District People's Government of Shenzhen partnered to boost collaboration in financial services, talent development, and artificial intelligence, as well as enhance cross-border engagement.On the corporate side, Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, said that its operational and industrial activities faced no material disruption amid the ongoing tensions in the Middle East. Shares of the building materials company closed the session 14.48% in the green.Al Ramz Corp. Investment and Development (DFM:ALRAMZ) launched the initial public offering of the Horizons GCC Sukuks Fund and the Fortitude GCC Equity Fund. The investment company's shares closed flat when it last traded on April 17.

Active Energy Says UAE Site Fully Energized Ahead of Schedule

Active Energy Group (AEG.L) achieved energization at the Ghummud site in Abu Dhabi, United Arab Emirates, earlier than expected.The UK-listed renewable energy and digital infrastructure company said Monday that the site is expected to be operational significantly ahead of the previously communicated timeline of 10 to 12 weeks.