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OPEC disintegrates 64 years after

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The Organization of the Petroleum Exporting Countries. Has started  disintegrating sixty four years after its establishment. OPEC was established in September 1960.

The United Arab Emirates announced it is withdrawing from OPEC and the broader OPEC+, delivering a significant setback to the oil-producing bloc and its de facto leader, Saudi Arabia, at a time when the ongoing Iran war has triggered a major global energy shock.

The departure of the UAE, a longstanding member of OPEC, is expected to create uncertainty within the group, which has traditionally maintained a united front despite internal disagreements over geopolitics and production quotas.

UAE Energy Minister Suhail Mohamed al-Mazrouei told Reuters the decision followed a strategic review of the country’s energy direction.

“This is a policy decision, it has been done after a careful look at current and future policies related to level of production,” said the energy minister.

When asked whether the UAE consulted with Saudi Arabia, he said the country did not raise the issue with any other nation.

The decision comes amid mounting tensions in the Strait of Hormuz, where Gulf producers have struggled to move exports due to Iranian threats and attacks on vessels. The strategic waterway typically handles about a fifth of the world’s crude oil and liquefied natural gas shipments.

Mazrouei downplayed the immediate market impact, citing the already volatile situation in the strait.

However, the move is seen as a geopolitical win for Donald Trump, who has repeatedly criticised OPEC for inflating oil prices.

Trump has also tied U.S. military support for Gulf nations to oil pricing, arguing that while the U.S. provides security, OPEC members “exploit this by imposing high oil prices”.

The UAE’s exit also follows growing frustration with regional allies during the conflict with Iran. The country, a major business hub and key U.S. partner, had criticised fellow Arab states for what it sees as inadequate support in the face of repeated Iranian attacks.

Anwar Gargash, diplomatic adviser to the UAE president, voiced those concerns during a session at the Gulf Influencers Forum.

“The Gulf Cooperation Council countries supported each other logistically, but politically and militarily, I think their position ⁠has been the weakest historically,” Gargash said.

“I expect this weak stance from the Arab League and I am not surprised by it, but I haven’t expected it from the (Gulf) Cooperation Council and I am surprised by it,” he added.

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87 migrants intercepted by Libyan authorities

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By Philippine Duru

philippineobetoduru@gmail.com

08034905774.

 

 

Libyan authorities have intercepted 87 migrants in separate maritime operations, while a boat carrying more than 15 people sank off Tunisia, leaving at least three people dead and several others missing.

 

The incidents were disclosed by Jihed, a PhD researcher in bioprotection of plants, in a series of posts.

 

According to Jihed, forces of the General Administration for Coastal Security, affiliated with the eastern Libyan General Command, intercepted two boats north of Sirte on Friday, August 21.

 

The operations, which took place at about 7 a.m. and 10 a.m., resulted in the interception of 52 people of different nationalities.

 

In another operation off Ras al-Tin, the coastal security forces intercepted a boat carrying 35 people, including 33 Sudanese nationals and two Egyptians.

 

The migrants were reportedly forced back to Tobruk.

 

Jihed said the latest operations brought the total number of migrants intercepted to 87, describing the situation as a recurring cycle of interception, forced return to Libya and detention.

 

Meanwhile, a separate maritime tragedy was reported late Thursday near Jdaria in Ben Guerdane, Tunisia, after a boat carrying more than 15 people sank while attempting to reach Italy.

 

Local fishermen from Ben Guerdane, Zarzis and Djerba reportedly rushed to the scene and rescued two young Tunisian men who were said to be in critical condition.

 

Three bodies were also recovered, while several others remained missing, including a pregnant woman.

 

Jihed called for intensified search and rescue operations, stressing that every minute was crucial in efforts to locate those still missing.

 

The latest incidents highlight the continuing dangers faced by migrants attempting to cross the Mediterranean in search of safety and better opportunities in Europe.

 

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EU offers Morocco enhanced border support

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By Philippine Duru

philippineobetoduru@gmail.com

08034905774

 

 

The European Union has pledged to strengthen its support for Morocco in managing its borders following the recent migration crisis in which tens of thousands of migrants crossed into the Spanish enclave of Ceuta, raising significant concerns over border security and migration management across Europe.

 

European Commission President Ursula von der Leyen outlined the EU’s position in a letter to Spanish Prime Minister Pedro Sánchez, emphasizing that Morocco remains a key strategic partner in addressing irregular migration into Europe. She stated that the bloc is prepared to expand financial, technical, and operational assistance to Rabat to reinforce border surveillance and enhance migration management capabilities.

 

The offer follows an unprecedented influx of migrants into Ceuta from Morocco, which placed considerable pressure on Spanish authorities and prompted emergency consultations among EU member states. The incident represents the first major test of the European Union’s recently implemented Migration and Asylum Pact, designed to improve coordination among member states while strengthening the protection of the bloc’s external borders.

 

Von der Leyen stressed that safeguarding Europe’s external borders requires close cooperation with neighbouring countries, particularly Morocco, which serves as a critical transit point for migrants seeking entry into Europe.

 

She noted that enhanced cooperation would include strengthened border monitoring, increased intelligence sharing, improved efforts to dismantle migrant-smuggling networks, and additional support to prevent irregular crossings before migrants reach European territory.

 

The European Commission President also commended Morocco’s longstanding cooperation with the EU on migration matters, describing the country as an indispensable partner in promoting regional stability.

 

Meanwhile, EU interior ministers have held emergency consultations to consider stricter measures against human trafficking networks, accelerated return procedures for migrants without valid protection claims, and increased investment in external border management. Ministers also called for closer coordination with countries of origin and transit to reduce irregular migration flows.

 

The migration surge has prompted political debate across Europe, with some governments advocating for tighter border controls and stronger enforcement of migration rules, while humanitarian organisations have urged EU leaders to ensure that security measures remain consistent with migrants’ rights and access to asylum procedures.

 

Analysts suggest that the EU’s latest commitment reflects Brussels’ growing reliance on partnerships with neighbouring countries such as Morocco to manage migration before it reaches European borders. This approach is expected to feature prominently in future discussions on the bloc’s migration strategy as European leaders seek long-term solutions to irregular migration and cross-border security challenges.

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Global oil prices rise above 1% 

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By Philippine Duru

philippineobetoduru@gmail.com

08034905774

 

 

Global crude oil prices rose by more than one per cent on Monday as escalating geopolitical tensions in the Middle East heightened fears of potential disruptions to global energy supplies, prompting traders to increase risk premiums in the market.

 

Brent crude, the international benchmark for oil prices, climbed to approximately $89.22 per barrel, while the U.S. benchmark, West Texas Intermediate (WTI), advanced to around $83.23 per barrel, extending gains recorded in recent trading sessions.

 

The latest rally reflects growing concerns among investors over the possibility that heightened instability in the Middle East—one of the world’s most important oil-producing regions—could affect production, transportation, or exports of crude oil.

 

Market analysts said geopolitical developments have once again become the dominant driver of oil prices, overshadowing broader concerns about global economic growth and oil demand. Any threat to oil infrastructure or shipping routes in the region typically triggers price increases as traders factor in the risk of supply shortages.

 

The Middle East accounts for a significant share of global crude oil production and exports. Key maritime routes such as the Strait of Hormuz remain critical to international energy trade, with millions of barrels of crude oil and petroleum products passing through the waterway daily. Any disruption along these routes could tighten global supplies and push prices even higher.

 

Analysts noted that the increase in crude prices was also supported by expectations of tighter global supply, particularly as major oil-producing countries continue to manage production levels under existing output agreements.

 

Beyond geopolitical concerns, investors are closely monitoring inventory data, demand forecasts from major economies, and monetary policy decisions by central banks, all of which continue to influence market sentiment.

 

Higher crude oil prices could have far-reaching implications for the global economy, particularly by increasing transportation, manufacturing, and energy costs. Rising energy prices also pose a challenge for central banks battling inflation, as higher fuel costs often feed into broader consumer prices.

 

For Nigeria, Africa’s largest crude oil producer, sustained higher oil prices could boost government revenues, strengthen foreign exchange earnings, and improve fiscal performance, provided crude production remains stable and export volumes increase. Increased oil receipts could also support external reserves and provide additional fiscal space for government spending.

 

However, economists caution that higher international crude prices may also translate into increased costs for refined petroleum products, potentially putting pressure on domestic fuel prices in countries that rely heavily on imports of refined products.

 

Energy market participants will continue to monitor developments in the Middle East for signs of further escalation or diplomatic efforts that could ease tensions. They will also be watching upcoming reports from major energy agencies and production updates from leading oil-producing nations for fresh direction on the outlook for global oil markets.

 

With geopolitical uncertainty persisting, analysts expect crude prices to remain volatile in the near term as traders react to new developments affecting global supply and demand fundamentals.

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