UAE's Exit from OPEC Triggers Market Turmoil
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Source: CNBC
- OPEC Production Cut: OPEC+ decided to cut production by 2 million barrels per day starting in November, despite U.S. calls for increased output to lower fuel prices, highlighting the ongoing tension in the global energy market.
- UAE's OPEC Exit: The UAE announced its exit from OPEC effective May 1, a significant blow to the cartel, particularly among major Middle Eastern oil producers, complicating the outlook for global oil supply.
- European Market Reaction: European stocks are expected to open broadly lower on Wednesday, with the FTSE 100 index projected to decline by 0.15%, reflecting investor shock over the UAE's departure from OPEC and its potential impact on oil prices.
- Earnings Reports in Focus: Investors are keenly awaiting earnings reports from major companies including UBS and TotalEnergies, as market sentiment is influenced by the upheaval in OPEC and disappointing performance in tech stocks, potentially leading to further market volatility.
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Analyst Views on TTE
Wall Street analysts forecast TTE stock price to fall
16 Analyst Rating
8 Buy
8 Hold
0 Sell
Moderate Buy
Current: 88.730
Low
60.04
Averages
71.67
High
90.93
Current: 88.730
Low
60.04
Averages
71.67
High
90.93
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Energy Efficiency Optimization: The new supercomputer will utilize specialized processors, achieving approximately 40% greater energy efficiency than previous models, while its cooling system's energy consumption will be reduced by a factor of five, with residual heat repurposed to heat CSTJF buildings, enhancing overall energy utilization.
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