Global News

6596 readers

148 users here now

What is global news?

Something that happened or was uncovered recently anywhere in the world. It doesn't have to have global implications. Just has to be informative in some way.

Post guidelines

Title format

Post title should mirror the news source title.

URL format

Post URL should be the original link to the article (even if paywalled) and archived copies left in the body. It allows avoiding duplicate posts when cross-posting.

[Opinion] prefix

Opinion (op-ed) articles must use [Opinion] prefix before the title.

Country prefix

Country prefix can be added to the title with a separator (|, :, etc.) where title is not clear enough from which country the news is coming from.

Rules

This community is moderated in accordance with the principles outlined in Article 19 of the Universal Declaration of Human Rights, which emphasizes the right to freedom of opinion and expression. In addition to this foundational principle, we have some additional rules to ensure a respectful and constructive environment for all users.

1. English only

Title and associated content has to be in English.

2. No social media posts

Avoid all social media posts. Try searching for a source that has a written article or transcription on the subject.

3. Respectful communication

All communication has to be respectful of differing opinions, viewpoints, and experiences.

4. Inclusivity

Everyone is welcome here regardless of age, body size, visible or invisible disability, ethnicity, sex characteristics, gender identity and expression, education, socio-economic status, nationality, personal appearance, race, caste, color, religion, or sexual identity and orientation. Any kind of discrimination is will not be tolerated.

5. Ad hominem attacks

Any kind of personal attacks are expressly forbidden. If you can't argue your position without attacking a person's character, you already lost the argument.

6. Off-topic tangents

Stay on topic. Keep it relevant.

7. Instance rules may apply

If something is not covered by community rules, but are against lemmy.zip instance rules, they will be enforced.

Companion communities

!legalnews@lemmy.zip - International and local legal news.
!technology@lemmy.zip - Technology, social media platforms, informational technologies and tech policy.
!interestingshare@lemmy.zip - Fascinating articles, captivating images, satisfying videos, interesting projects, stunning research and more.
!europe@lemmy.dbzer0.com - News and information about Europe.
!usa@midwest.social - News and information about United States of America.

Icon generated via LLM model | Banner attribution

If someone is interested in moderating this community, message @brikox@lemmy.zip.

founded 2 years ago

MODERATORS

BrikoX@lemmy.zip

United Arab Emirates says it will leave OPEC, a blow to the oil cartel (apnews.com)

submitted 2 weeks ago by cm0002@suppo.fi to c/globalnews@lemmy.zip

3 comments fedilink hide all child comments

DUBAI, United Arab Emirates (AP) — The United Arab Emirates said Tuesday it will leave OPEC effective May 1, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices.

The UAE’s decision had been rumored as a possibility for some time, as it pushed back in recent years against OPEC production quotas it felt had been too low — meaning it wasn’t able to sell as much oil to the world as it had wanted.

“Having invested heavily in expanding energy production capacity in recent years, the bigger picture is that the UAE has been itching to pump more oil,” Capital Economics wrote in an analysis. “The ties binding OPEC members together have loosened,” it said, particularly after Qatar withdrew from the cartel in 2019.

Regional politics are also likely at play. The UAE has had increasingly frosty relations with Saudi Arabia, OPEC’s largest producer, over political and economic matters in the Mideast, even after both came under attack by fellow OPEC member Iran during the war.

top 3 comments

sorted by: hot top controversial new old

[–] bonenode@piefed.social 6 points 2 weeks ago (2 children)

I cannot tell if that is good or bad news... or just news.

[–] Saledovil@sh.itjust.works 5 points 2 weeks ago

Cartels loosing members is in general good. UAE produces more oil means lower profit margins for oil producers, and less money for pro fossil fuel lobbying.

[–] lath@piefed.social 1 points 2 weeks ago

If my guess is right, and they rarely are, the trumpets are making a move on OPEC members using Iran as a reason.