
The United Arab Emirates announced on Tuesday its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ alliance, in a decision taking effect on May 1 that constitutes one of the most significant blows to the oil cartel in its more than six decades of existence. The announcement comes amid the largest energy crisis in years, triggered by the closure of the Strait of Hormuz during the war between the United States and Iran launched on February 28, and on the eve of the OPEC meeting scheduled for Wednesday in Vienna.

Two oil tankers reversed course as they approached the Strait of Hormuz on Monday, just hours after the US naval blockade against Iranian ports took effect, according to maritime tracking platform MarineTraffic. Brent crude for June delivery closed up 4.4% at $99.36 per barrel, while US benchmark WTI rose 2.6% to $99.08, according to Bloomberg.

The British Embassy in the United Arab Emirates (UAE) urged UK nationals on Thursday to take shelter immediately, “remain indoors,” and “stay away from windows,” issuing the guidance on social media as reports of strikes and explosions spread across parts of the Middle East.

Despite the political turmoil in his country, where he requested the resignation of every cabinet member, Colombian President Gustavo Petro left for the Arabic Peninsula to attend a series of international engagements, including the World Government Summit 2025 in the United Arab Emirates.

Argentina, Brazil, Chile, the United Arab Emirates (UAE), and Paraguay Friday agreed in Dubai on the sidelines of the United Nations Climate Summit (COP28) to “seek opportunities” for the highway due to link the port of Santos, in Brazil, with the Chilean ports of Arica and Iquique. Former Paraguayan President Mario Abdo Benítez has dubbed the initiative “the small Panama Canal.”

Argentine Foreign Minister Santiago Cafiero Monday welcomed United Arab Emirates Minister of State for International Cooperation Reem Al Hashimy to deepen bilateral ties and open new exchange channels between both countries, it was reported by the Palacio San Martín.

President Mario Abdo Benítez and Foreign Minister Julio César Arriola Monday took part in the opening of Asunción's new embassy in Abu Dabi, in the United Arab Emirates.

A C-17 Globemaster freighter of the United Arab Emirates Air Force Wednesday departed from the Bariloche airport in Argentine Patagonia after being grounded for two days due to Customs inconsistencies with its cargo manifesto.

Brazil's President Jair Bolsonaro Monday told potential investors at Expo Dubai in the United Arab Emirates about the opportunities awaiting in his country.

The world's leading oil-producing countries agreed on Sunday to continue with the gradual increase of output, 400,000 barrels per day, beginning August first, to help global economic recovery following the pandemic, according to a release from the group's meeting in Vienna.