OPEC

In a major shift in global energy dynamics, the UAE is set to exit Organization of the Petroleum Exporting Countries from May 1, potentially reshaping how oil supply is managed worldwide. The move could give the UAE more flexibility to increase production, which may eventually ease global crude prices. For India, a heavily import-dependent economy, this could mean some relief on fuel costs and inflation. However, ongoing geopolitical tensions, especially around the Strait of Hormuz, continue to keep markets volatile. The real impact will depend on how quickly supply stabilises and how global demand evolves.

OPEC will raise oil production quotas by 206,000 barrels a day in May. The marginal increase is largely symbolic, as major members are unable to boost output amid the ongoing US-Israeli conflict with Iran.

Kuwait has cut oil output as Iran blocks the Strait of Hormuz. With Brent up 28% and India importing half its crude through the waterway, the stakes are high.

While analysts had already predicted a “knee-jerk” reaction to oil prices when trading resumed in New York, the bigger question looms: whether a sustained conflict in the Middle East means a prolonged disruption in supply.

OPEC will increase oil production by 206,000 barrels a day next month amid rising crude prices due to US-Israeli strikes on Iran.

The US and Israel launched strikes on Iran, raising risks to global oil supplies. Iran produces 3.3 million barrels daily and controls access to the Strait of Hormuz, a key oil route. Companies have paused shipments, heightening fears of disruption and rising crude prices.

This year's gold and silver rally is going to be bumpy, marked by sharp selloffs and reasonable pullbacks along the way, says Navneet Damani of MOSL. Massive volatility is expected in the first, at least in the first quarter of 2026, he added.