Daily brief
The UAE has withdrawn from both OPEC and the Organization of Arab Petroleum Exporting Countries (OAPEC), following its earlier break with the oil producer group. In response, state oil company ADNOC has accelerated a $55 billion investment plan, citing a new 'freedom to produce' as part of its energy strategy. The UAE insists the exit is not directed against any country.
A drone strike on an oil hub in Fujairah caused a fire and injured three people, as the UAE intercepted Iranian missiles.
China ordered its refiners to ignore U.S. sanctions on key Iranian oil buyers.
Equinor is betting on new wells to offset declining fields.
Saudi Arabia is seeking public opinion on cybersecurity rules for national events.