Vienna, Austria
Coverage of Vienna, Austria in the Nexus archive.
- OPEC Output Falls to New 36-Year Low on Iran War, Survey Shows
OPEC's oil output has fallen to a 36-year low due to the Iran war and the United Arab Emirates' decision to leave OPEC, dealing a blow to the group and its leader Saudi Arabia. This departure affects the global oil industry as it grapples with massive supply disruptions. The Organization of the Petroleum Exporting Countries is facing challenges amid these changes.
- OPEC+ Agrees to Symbolic June Quota Increase, Delegates Say
OPEC+ agreed to a symbolic June quota increase to stabilize oil markets. The United Arab Emirates announced its exit from OPEC and its wider alliance, weakening the group's influence amid global supply disruptions caused by the Iran war.
- OPEC+ Meeting Offers Chance to Show Unity After UAE’s Shock Exit
The United Arab Emirates will exit OPEC and its wider alliance, dealing a blow to the group and Saudi Arabia amid global oil supply disruptions caused by the Iran war. The OPEC+ meeting in Vienna, Austria, presents an opportunity for the remaining members to demonstrate unity.
- OPEC+ Agrees in Principle on Small Output Hike, Reuters Reports
OPEC+ has agreed in principle to a small increase in oil output, but the United Arab Emirates is set to leave OPEC and its broader alliance, weakening the group and Saudi Arabia. This comes amid global oil supply disruptions caused by the Iran war.