The United Arab Emirates announced it will exit OPEC next month amid its long-term strategic and economic goals and plans to expand energy investment, The New York Times’ Vivian Nereim reports. The move follows longstanding concerns that OPEC production quotas have constrained the country’s oil export potential. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVX:
- Chevron (CVX) Nears $1 Billion Singapore Asset Sale to ENEOS as It Refocuses on Higher-Return Growth
- 3 Best ETFs to Invest In, According to AI Analyst, 04/27/2026
- Big Oil Stocks: Why BP Is Leaving ExxonMobil in the Dust Ahead of Q1 Earnings
- Options Volatility and Implied Earnings Moves This Week, April 27 – May 01, 2026
- Chevron CEO says Venezuela need to make more oil policy changes, Bloomberg says