UAE’'s exit from OPEC’ signals strategic change as Gulf Union faces new test on oil policy

The United Arab Emirates’'s decision to leave OPEC’ comes after years of tension over production limits and will have implications for broader Gulf coordination and oil market alliances.

This decision, which will take effect on May 1, ’, comes after years of frustration over production quotas that limit production despite intense investments to increase Abu Dhabi ’de capacity.

Bill Farren-Price said “BAE made a strategic choice years ago to expand oil and gas production. “Now they see little value in limiting themselves when they invest in extra production.”

Tensions are mounting within OPEC and OPEC+, where the discipline of production is increasingly clashing with the ambitions of countries seeking to maximize their market shares.

Frédéric Schneider, pointing to the gap between the country's planned capacity and the OPEC quota of “, said that there are many factors, but the most obvious is that BAE’ wants to export more oil.

Beyond production, this movement reflects a more independent approach.

Farren-Price, “This shows that BAE’ is more prepared to chart an independent path and rely less on regional groups such as OPEC and the Gulf Cooperation Council.

Sultan Al Jaber, UAE Minister of Industry and CEO of ADNOC, speaks at ADIPEC’te in Abu Dhabi’.

Pressure on OPEC

Although the output does not signal the end of OPEC’, it increases the pressure on the system, which is already under pressure.

Energy analyst Andrei Covatariu said BAE’ repeatedly signaled frustration about production limitations and a desire for greater flexibility, noting that “Karar was not necessarily unexpected.” said.

He also stressed that the move raises broader questions about whether OPEC’'s traditional quota system is fit for purpose, especially for producers with spare capacity who want to increase production.

While demand and prices remain strong and producers are trying to monetize resources, the commercial logic of accepting production limits is becoming less convincing, “ added.

The immediate impact on the oil market may be limited, but the long-term effects may be more significant.

Farren-Price said it could become more important if it leads to a bigger crisis within “OPEC, but added that this remains unclear.

For now, it seems that Saudi Arabia and Russia will continue to be the dominant actors within OPEC+, even if the group's collective weight decreases.

Gulf coordination at the focal point

This move highlights key differences in the Gulf ’ prior to the current crisis.

Schneider said the decision strengthens existing divisions within the Gulf Cooperation Council, where coordination is often limited despite shared security concerns.

Covatariu said BAE’'s exit comes after Qatar’'s departure from OPEC’ in 2019, suggesting that Gulf countries are increasingly prioritizing national strategies over collective frameworks.

Instead of triggering a sudden breakout, analysts expect a cautious response from regional actors, emphasizing the preservation of stability within the bloc.

Farren-Price, “, said they'll probably circle the wagons and merge together, ” said.

Logistics pressure increases in Caspian-Central Asia corridor as trade routes develop

Transport and energy officials meeting in the capital of Azerbaijan’ say the Caspian-Central Asia corridor is entering a more complex phase as increasing trade volumes are beginning to exceed the capacity and resilience of the existing infrastructure connecting Asia and Europe’.

At a regional forum on April 23-24, participants described a system that is still functioning but is increasingly struggling as pipelines, railways and ports face increasing operational and financial pressures.

Infrastructure is present, but boundaries are emerging

Despite concerns, some experts argue that the region did not start from scratch.

Global Gas Center Central Asia Consultant Askar Ismayilov, “All infrastructure in terms of transportation is available” said.

“Even if we want to increase capacity, it won't require significant capital expenditure.”

He suggested that this basic line offers some degree of cost stability.

Pointing out that existing networks are the basis for increased expansion, “ added that in this case transportation costs will not increase dramatically.

But the challenge is no longer just infrastructure, but security and supply.

Ismayilov, “We see that no route will be secured, the world has changed, ” said.

The more we expand and increase the number of routes, the more we will contribute to supply security, ” said.

Pipeline dependence remains a structural risk

Much of the region's export system still relies on a limited number of corridors.

Kazakhstan remains heavily dependent on the CPC pipeline to the Black Sea ’, while Azerbaijan distributes volumes via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa routes.

According to John Patterson ’, co-founder and board member of the British Chamber of Commerce in ’, the issue is not only capacity but also urgency.

“There is a huge demand for oil and natural gas, ” said. “Needs pipe lines, connection. That was the purpose of this forum.”

He pointed out that sharp increases in commodity prices are a warning signal. “LNG has increased dramatically since the beginning of the conflict, Brent is also significantly higher”

Patterson drew attention. All these problems will have big consequences for the global economy, ” said.

Connection becomes strategic leverage

As global supply chains adapt, the ability to move energy and goods efficiently becomes a strategic advantage.

Referring to weak points around important maritime routes, Patterson said, “If alternative supply routes can be used and transport links such as pipelines, highways or rail can be improved, then the global market becomes less dependent on narrow points.

Azerbaijan, in particular, is positioning itself as a transit hub.

The importance for “Baku lies in the existing pipeline connection to the European and Western markets, ” said. “Central AsiaHas the know-how and capacity to help ’ move its resources.”

This role extends beyond oil.

Patterson described the region as a bridge between the production and consumption markets, adding that commodities such as “, oil or cotton can be transferred from here to the European Union ’.

The Middle Corridor is gaining interest

In this framework, attention is shifting to the Central Corridor’a, the trans-Caspian route connecting China, Central Asia, the South Caucasus and Europe’.

Participants said the importance of this route increased as countries sought alternatives to northern and southern routes that were disrupted by geopolitical tensions.

Railway infrastructure is already under pressure. While improvements are being made to increase capacity on the Baku-Tbilisi-Kars railway, ports in the Caspian and Black Sea ’ are dealing with increased cargo volumes.

AzerbaijanFrom ’'s Alyat and Dubendi terminals to Kazakhstan’'s Aktau and Kuryk ports and Georgia’'s Black Sea transit points, production demand is often growing faster than expansion projects can keep up.

New pipeline targets reappear

As the pressure increases, long-discussed projects come back to the agenda.

Chairman of the Petro Council Kazakhstan Assylbek Jakiyev said that for “Kazakhstan and other Central Asian countries Azerbaijan is of vital importance”. “This should be a mutually beneficial project.”

He pointed to the possibility of a revival of discussions around the trans-Caspian pipeline.

We can restart negotiations to build a pipeline that will connect to the BTC pipeline over the “ Caspian Sea, ” said.

Such a project would require regional cohesion.

Despite admitting that official talks are limited, “Kazakhstan, Turkmenistan and Azerbaijan can agree to build this pipeline and connect it to existing systems, ” added.

Environmental and operational pressures intensify

Beyond infrastructure, natural factors also complicate logistics.

Falling levels in the Caspian Sea ’ are already affecting port operations, reducing draft capacity and requiring screening; Marine companies, on the other hand, have to adapt their fleets to shallower conditions.

At the same time, financial and regulatory constraints, from sanctions compliance to increased insurance and freight costs, are reshaping investment decisions.

A system in the process of transformation

According to Ismayilov’, the result is clear: The infrastructure alone won't be enough.

By linking the increase in supply with the diversification of transportation, “ said that what is now more important is to increase production.

Participants generally identified a logistics network that was strategically vital but under pressure to develop.

As trade flows intensify and geopolitical risks continue, the Caspian-Central Asia corridor is shifting from a stable transition route to a more dynamic, competitive and risk-sensitive system in which resilience, diversification and connectivity will define the long-term role in global energy and trade.

The special one: Fintech giant Revolut will open its first physical store in ’, Barcelona

As fintech firms move beyond applications to build trust, Revolut is moving its digital-first model into the physical world.

Global financial technology company Revolut has specifically confirmed that it plans to open its first permanent physical store in Barcelona’.

A spokesperson for Euronews Business’a said: “We chose Barcelona’ as the place to pilot our physical stores because Barcelona combines local density, global relevance, tourism and innovation.”

The London-based company said the store aims to interact directly with consumers and make financial technology more accessible to the public.

Revolut was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko as a digital application.

Today, it offers multiple currency accounts and instant money transfers. Revolut is also expanding into banking services such as loans, with the aim of positioning itself as one of Europe’'s leading digital banking platforms.

Revolut has not disclosed the exact location of the store or the services it plans to offer on-site.

The company said that “ will not be a traditional bank branch in any way, instead ” will be a high-visibility, immersive space“.

He added that physical presence can help build trust in customers.

The project is still in the initial ​​ phase, and the company said the opening timeline will depend on the progress of construction. He added that the project was wanted to be completed soon, but they could not confirm whether the store will open this year.

Since its launch at ’ in 2015, Revolut has become the most valuable start-up ’ in Europe, with rapid expansion in payments and wider banking services.

A turning point year

The company recently reported record 2025 results; revenue thanks to high customer fees and strong growth in credit products increased and pre-tax profit is up.

As we continue to expand our global banking goals, our loan portfolio %It's up 120.

In a statement on the release of its latest earnings report, co-founder and CEO Nik Storonsky said “2025 was another landmark year. We built a profitable, diversified, resilient business on a large scale and laid the foundation for the next stage of our growth.

The firm is seeking to obtain banking licenses in multiple countries as part of its global strategy and is expanding its ability to offer regulated banking products.

This year, the United Kingdom secured banking status, and France and the United States are aiming for approval in ’. It currently serves about 70 million customers worldwide.

Revolut has already established a strong presence across Europe. France, Spain and Poland, where more than 30 percent of adults have opened accounts in the last three years, are among ’'s strongest markets.

In its forecast for 2026, Revolut said the UK remains committed to its £10 billion (€11.6 billion) investment plan over the next five years, including the creation of 1,000 jobs at ’.

Revolut expects to reach 100 million customers by mid-2027.

There's an IPO on the horizon?

Investors are closely monitoring Revolut’'s IPO plans. The FT reported last week that Revolut’ was targeting a valuation of up to $200 billion (170 billion euros) on the stock market, which was not planned before 2028’.

The company also announced plans to expand its presence in Spain’, including a new office in Barcelona’. It plans to hire 300 people in the region by 2028, bringing the total number of staff to around 1,000.

It also plans to open a new office in Madrid’ by the end of the year, with 500 more expected to be hired by 2028.

Poland’'s growing role in the G20 global economic debate

The three-day 18th edition brings together representatives from the worlds of politics, business and academia to discuss the most pressing challenges facing the Polish and European economies. The European Economic Congress is held in Katowice’.

One of the main topics of this year is the role of the Polish ’ in the G20’ and what its presence means for the future development of the country.

The discussion became even more important after a meeting of G20 finance ministers and central bank governors on April 16 in ’, Washington, attended by ’da Finance and Economy Minister Andrzej Domański and Polish Central Bank Governor Adam Glapiński’nin.

This was Poland's first participation in this format of ’'s G20 talks.

Speaking at the ’ panel at the “G20’ in Katowice”, Poland, Domański said the country's presence in the group reflects decades of economic transformation.

“Poland is no longer just an observer of global processes; Today we're helping shape their direction, ” said.

PolandBoth ’'s Central and Eastern European perspective and “son's most successful economic transformation in 40 years brought the ” experience, he added.

According to Domański’, the voice of “Poland’ is listened to very carefully.”

The minister also noted that the discussions at Washington’ were dominated by tensions in the Middle East’ and increased energy and fuel costs.

International Monetary Fund’, Poland’ %With GDP growth exceeding 3’, the European Union said despite global uncertainty, the Polish economy remains stable and resilient, citing estimates that ’ will be the fastest growing major economy.

He added that participation in the G20’ strengthens Poland’'s position in global debates.

“G20’den PolandWe return with the belief that ’'s voice is heard very carefully,” said.

The panel also featured TVN Warner Bros. Discovery General Manager Kasia Kieli stressed that presence alone is not enough.

“Just because we're invited to the table doesn't mean we have a place there; We are earning this place by contributing, ” said.

According to him, G20 participation offers an opportunity to build a coherent narrative about Poland that goes beyond the economy to include culture, sports and new technologies.

Professor Piotr Wachowiak, rector of the Warsaw School of Economics, said ’ could serve as a bridge between different parts of the world.

At the same time, “ described G20 participation as both a great achievement and a great responsibility, stressing the need to further strengthen the economy and institutions, warning against complacency.

The energy transition was also an important issue at the congress.

Domański stated that energy prices will be important in terms of competitiveness in the coming years, noting the role played by nuclear energy as a stable component of the system, stressing that investments should be evaluated primarily in terms of cost.

This year's congress will run until April 24, ’. Euronews is among the media partners.

Nissan to cut 20,000 jobs after Japanese automaker reports missing

Japanese automaker Nissan has announced a recovery plan to create a more resilient business, “, which quickly adapts to the ” market changes after the company reported a net loss of 671 billion yen (EUR 4 billion) for the fiscal year ending in March. This compares to the net profit of €2.6 billion in the previous fiscal year.

The main cause of the damage was the decline in vehicle sales in China and other countries and increased restructuring costs.

Nissan Motor Corp. has said it will reduce the number of car factories from 17’ to 10’ under the rescue plan. It was not specified which factories were closed, but it was confirmed that the closures would include factories in ’, Japan.

Ivan Espinosa, the company's chief executive, told reporters in “ that there is a mountain we need to climb, stressing that the task will not be easy, it requires discipline and teamwork. “From today, we are building the future of Nissan’.”

Among the layoffs to be made until March 2028’ is the 9,000-person reduction announced last year. Nissan has also previously announced that it has abandoned plans to build a battery factory in ’, Japan.

Nissan’'s recovery plan involves trying to reduce costs by up to 500 billion yen ($3.4 billion) compared to current costs.

Espinosa, who took over earlier this year, said the latest plans come after a careful review of operations to align production with demand, including determining market and product strategies. Nissan’ will also benefit from partnerships with Renault SA in ’ and Dongfeng Nissan in China.

Yokohama-based automaker, US President Donald Trump, said ’'s tariffs on car imports were also damaging the results.

Espinosa, “As the new management, we take a prudent approach to reassess our goals and actively seek every possible opportunity to implement and ensure a strong recovery.

“All employees are committed to working together as a team to implement this plan with the goal of returning to profitability by fiscal year 2026, ” said.

But Jeremie Papin, Nissan's chief financial officer, acknowledged that the automaker faces serious challenges. Nissan did not forecast profits for the fiscal year up to March 2026’, citing uncertainties.

Ford expects a €1.39 billion blow to 2025’te from Donald Trump’'s tariffs

Ford Motor Co. said on Monday it expects its profit to be $1.5 billion (€1.39 billion) excluding interest and taxes as a result of this year's tariffs. The company also withdrew its all-year financial guide due to the uncertainty created by the Trump administration's burgeoning trade policy and suspended publishing a new one.

Automobile manufacturer, President Trump’ applied to vehicles ’ is less affected by tariffs than other car manufacturers.

Last week, General Motors said it was preparing for a potential impact of car tariffs as high as $5 billion (€4.4 billion) at 2025’. Ford and Tesla’ are expected to see a smaller impact from the tariffs compared to GM and other automakers as they assemble most of their cars in the USA’. Still, the impact they'll see won't be insignificant.

Ford initially estimated that its 2025 pre-interest and pre-tax earnings would be in the range of $7 billion to $8.5 billion (€6.2 billion to 7.5 billion), but on Monday the company said tariff-related risks made it difficult to update its full-year guideline at this time, given the “potential outcome range.

Ford CEO Jim Farley has been vocal about the advantage higher domestic production gives his company, and he did the same on Monday, acknowledging that the industry's tax impact is still in the early stages.

In his earnings interview with analysts, Farley said it is too early to measure relevant market dynamics, including potential supply chain disruptions across the “Sector. Car manufacturers with the largest footprint in “ will have a great advantage, and this also applies to Ford. This puts us in a pole position. - ”

Ford’'s earnings statements dominated the potential impact of tariffs; One executive pointed out how a small problem in a few parts can have a dramatic impact.

Operations Director Kumar Galhotra, “ChinaHow rare earth materials from ’, for example, are imported, has become quite complex over the past few weeks, not just for us, but for the entire industry, ” said. “Only a few parts will be enough to potentially cause some interruptions in our production.”

The first quarter (1. (Quarter of results)

The announcement comes after the automaker announced its first quarterly results, along with a sharp drop in profits. Net revenue fell by about two-thirds in the first quarter compared to the previous year, to 1.33 billion $471 million from ’ (€1.17 billion) $’a (€417 million) declined.

In the quarterly report, “ reported that as a result of the reduction in wholesale sales resulting from planned shutdowns at certain factories in relation to new product launches and inventory rebalancing measures, ” %It fell five times to $40.7 billion (€35.9 billion).

The results exceeded the expectations of analysts who participated in the FactSet survey, who estimated revenue to be about $38 billion (33.5 billion euros).

USAView of the car manufacturing sector in ’

President Donald Trump said one of the goals of his trade policy was to move more product manufacturing, such as cars, back to the U.S. ’. Last week, Trump signed executive orders to loosen some of the 25 percent ’ tariffs on cars and auto parts, which he said would give automakers more time to change production operations.

Automakers and independent analyses have shown that tariffs can increase prices, reduce sales, and make U.S. production less competitive around the world. However, Ford does not expect significant price increases. According to CNN’, the automaker expects U.S. auto prices to rise in the second half of this year due to tariffs on both imported cars and auto parts. %From 1 to %He expects it to increase by 1.5%.

Ford has promised an update to its financial guidance while announcing its results for the second quarter of the year.

Samsung sees revenue growth but offers bleak outlook on tariffs

Samsung Electronics reported a sharp increase in consolidated revenue in the first quarter thanks to strong sales of its new smartphones on Wednesday, but the semiconductor business suffered a downturn.

The South Korean semiconductor and smartphone giant said in a statement that it generated consolidated revenue of 79.14 trillion won (49 billion euros) for the January-March quarter, describing it as its all-time three-month high.

He said operating profit increased from 6.61 trillion won in the same period last year to 6.7 trillion won (EUR 4.1 billion).

Samsung attributed the results to strong sales of its flagship Galaxy S25 smartphone and other high-value-added products.

However, the operating profit of the company's semiconductor business line fell from 1.91 trillion won’ in the same quarter last year to 1.1 trillion won’ (€681.3 million).

The company said its profit is declining due to lower average sales prices, as well as decreased demand for high-bandwidth memory as customers wait for the release of next-generation memory chips.

Samsung said in its earnings statement that US tariffs could affect memory chips and smartphone sales, but the exact effect is unclear.

US President Donald Trump has said he plans to impose a “ tax on semiconductors very soon.

Samsung Electronics’in shares in South Koreaapproximately at market close in ’ %It's down 0.5.

Why doesn't the UK government reject the nationalization of important British steel mills?

As the global trade war escalated pressure to maintain the country's ability to provide the steel it needs for domestic industry, the British government refused to rule out the possibility of nationalization of the last plant in ’, United Kingdom, which produces steel from raw materials.

According to local politicians and unions, unless the government intervenes, iron pellets used to produce steel in two large blast furnaces at Scunthorpe steel mills operated by British Steel may soon run out. This was because the plant's owner, China's Jingye Group’, canceled orders for these essential raw materials amid negotiations to increase government support.

The news comes two weeks after British Steel’in “ said it was considering shutting down blast furnaces because they are no longer financially sustainable due to tough market conditions, tariffs and rising environmental costs.

After Jingye’nin rejected a £500m (€577.6m) bid to help modernise the facility, the government is continuing negotiations with the company. Asked on Tuesday what the government is prepared to do to keep the plant open, Prime Minister Keir Starmer said ’ is firmly committed to steel production in the UK.

In a statement to the parliamentary committee, all options regarding “Scunthorpe are on the table, ” said.

British Steel and its ancestors have been producing steel at Scunthorpe’ for over 130 years, and the United Kingdom has benefited from ’'s development of advanced steelmaking technology during the Industrial Revolution. The factory currently employs about 2,700 people.

Jingye acquired British Steel’i at 2020’ and said the plant has invested more than £1.2 billion (€1.4 billion) to remain operational against “, the ongoing production instability.

UK's steel production falls

United KingdomDue to ’'s steel production, high production costs and the rapid growth of Chinese production since the late 1960s, %It's down 80, and that's brought prices down around the world.

Britain, the world's fifth-largest steel producer in 1970, produced only 5.6 million tons of steel in 2023; This is global production. %It makes up 0.3’. By comparison, China accounts for 1.02 billion tons of production worldwide. He produced his ’.

The remaining steel producers of ’ are now under pressure to reduce carbon emissions due to the threat of global warming. Most have switched to electric arc furnaces that produce steel from recycled material.

This left Scunthorpe’ as the only factory with blast furnaces capable of converting iron ore into untreated steel.

Union officials said British Steel’ must order more iron pellets in the next few days to guarantee delivery before the plant runs out of raw materials in late May.

Thomas Smith, a steelworker and representative of the union community, told Sky News’e “ this week that we are in danger of losing these furnaces. “ added that if we miss the deadlines, we will reach a point where we will have to decide whether to close them both.

During a debate in the House of Commons on Monday, lawmakers said U.S. President Donald Trump, fueled by ’'s new import taxes, needed his own steel-making industry to maintain ’'s economic independence amid a flourishing trade war.

Martin Vickers, a member of Parliament representing the region adjacent to the Scunthorpe’, said he believed that Jingye’ was not involved in the meaningful negotiations with “.

In a speech to the House of Commons on Monday in ’, “ said that in this case I have come to the view that temporary expropriation is the only way. “This will secure jobs at Scunthorpe’ and secure the future of steelmaking.”

Industry Minister Sarah Jones said Jingye’ continued to meet with the government.

Our belief was clear that the best way forward for “Scunthorpe and British Steel was to continue as a commercially managed business with private investment and government backing, ” said. But I can tell the honourable gentleman that no option is on the table. - “