Seven member countries of the OPEC Plus alliance are meeting today to determine new oil production quotas. This is the first meeting since the United Arab Emirates (UAE) officially withdrew from both OPEC and the broader OPEC Plus group last Friday. The meeting follows the UAE’s decision, announced on April 28, to leave the alliance due to dissatisfaction with production limits.

The UAE, one of the world’s major oil producers, had long expressed discontent over the quotas set by the alliance. Analysts cited this ongoing disagreement as the main reason behind its departure. The current meeting is expected to address production adjustments among the remaining members.

According to reports, the seven participating countries may decide to increase daily oil output by about 188,000 barrels. Such a move could influence global oil supply and prices, depending on how markets respond to the new quotas.

A severe geopolitical crisis in the Middle East has disrupted global energy supply routes, threatening the stability of the world economy. The ongoing U.S. military operation 'Epic Fury' and Iran’s closure of the Strait of Hormuz have nearly halted the transport of oil and liquefied natural gas through the region. The article reports that about one-fifth of global oil and 20 percent of liquefied natural gas shipments have already stopped, pushing fears that oil prices could reach 200 dollars per barrel.

The report links the crisis to broader geopolitical rivalries involving the United States, Iran, Israel, China, and Russia. It warns that U.S. efforts to control global oil reserves could destabilize other regions, including Egypt, Cuba, Greenland, and Turkey. The piece also revisits NATO’s past interventions, arguing that its actions in countries like Libya and Venezuela reflect a pattern of power politics under the guise of democracy and security.

The article concludes that if world leaders fail to contain the conflict, the global economy could face severe inflation, disrupted supply chains, and the potential collapse of existing military alliances such as NATO.

May Day rallies held on Friday across Europe and Asia shifted from traditional labor rights demands to politically charged demonstrations. Protesters combined calls for higher wages and inflation control with anti-war slogans, expressions of solidarity with Palestine, and strong criticism of the United States and Israel. From Paris to Istanbul and Madrid to Seoul, demonstrators blamed rising living costs on Middle East conflicts, U.S. foreign policy, and capitalism.

In Paris, clashes erupted between protesters and police, leading to the use of tear gas and grenades. Madrid saw thousands marching with banners condemning capitalism and criticizing U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. Similar confrontations occurred in Munich and Istanbul, while in Manila, protesters near the U.S. Embassy demanded lower fuel prices and an end to Middle East wars. In Seoul, union leader Yang Kyung-su urged solidarity with workers in Iran and Palestine.

Analysts offered contrasting views: Emma Schubert described the rallies as ideological platforms reflecting anti-Western sentiment, while Nile Gardiner criticized them as moral decline for targeting the U.S. and its allies instead of authoritarian regimes.

The US Department of State has announced new sanctions targeting the oil trade between Iran and China. According to an official statement, the sanctions cover several companies, one individual, and a vessel involved in the trade of Iranian petroleum, petroleum products, and petrochemicals. Among those sanctioned is Qingdao Haiye Oil Terminal Co. Ltd., a Chinese oil terminal operator accused of importing millions of barrels of crude oil despite existing US restrictions.

The statement further alleged that Haiye facilitated large financial transfers to Tehran and used complex ship-to-ship transfer methods to evade sanctions. In response, Liu Pengyu, spokesperson for the Chinese Embassy in Washington, told the South China Morning Post that Beijing opposes unilateral sanctions and extraterritorial jurisdiction not grounded in international law.

US sanctions on Iran’s oil sector were first introduced during the Trump administration. The report also notes that the US has previously sanctioned several Chinese refineries and Hong Kong-based shipping firms accused of involvement in Iranian oil trade.

At the 76th FIFA Congress held in Vancouver, political tensions surfaced as Palestinian and Israeli football officials faced each other. Palestinian Football Association President Jibril Rajoub publicly expressed anger toward Israel, refusing to shake hands with Israel Football Association Vice President Basim Sheikh Sulaiman despite FIFA President Gianni Infantino’s call for unity. Rajoub accused Israel of violating FIFA’s anti-discrimination policies by operating clubs in occupied West Bank areas and confirmed that his association had appealed FIFA’s earlier decision to the Court of Arbitration for Sport on April 20.

FIFA had previously declined to take punitive action against Israeli clubs in West Bank settlements, citing the unresolved international status of the territory. However, it fined the Israel Football Association about 150,000 Swiss francs for separate violations involving racism, discriminatory behavior, and breaches of fair play rules. Infantino urged both sides to remain calm and work together for the future of football and children.

Rajoub maintained his stance, questioning Israel’s FIFA membership and demanding sanctions for alleged human rights violations. Israel’s acting general secretary, Yariv Teper, avoided direct rebuttal but expressed willingness to cooperate with Palestine for football development.

The World Bank Group has warned that global energy prices could increase by up to 24 percent in 2026 due to ongoing conflict in the Middle East. Its latest Commodity Markets Outlook report attributes the projected rise to attacks on energy infrastructure and disruptions in the Strait of Hormuz, a key route for about 35 percent of the world’s crude oil shipments. The report notes that global oil supply has already fallen by around 10 million barrels per day, creating immediate pressure on international energy markets.

According to the baseline forecast, the average price of Brent crude oil could reach 86 dollars per barrel in 2026, up from 69 dollars this year. If the conflict continues or supply chains fail to recover quickly, prices could climb as high as 115 dollars per barrel. The report also predicts a 31 percent rise in fertilizer prices, with urea potentially increasing by 60 percent due to higher natural gas costs and supply uncertainty.

The World Bank projects that developing economies may face average inflation of 5.1 percent next year, rising to 5.8 percent in a worst-case scenario, while their economic growth could slow to 3.6 percent.

Perplexity has announced major updates to its 'Computer' platform for enterprise users, following a meeting with business and finance leaders in New York City. The company introduced new integrations, including support for Microsoft Teams, where users can message Computer directly or add it to channels. Computer in Excel has entered beta as a native side panel, allowing analysts to request assistance without leaving their spreadsheets. The update also launches 'workflows,' pre-built task templates that bundle prompts, context, and output formats for repetitive enterprise processes.

Perplexity’s latest release adds data connectors for Snowflake and Databricks, enabling teams to query internal data securely without transferring it between systems. A new partnership with 1Password enhances identity security, allowing Computer to act on behalf of users while keeping credentials protected. The company also unveiled 'Computer for Professional Finance,' which integrates licensed data from providers such as Morningstar, PitchBook, Daloopa, and Carbon Arc to generate finance-specific deliverables.

Perplexity described these developments as part of a broader shift toward objective-based computing. Its 'Personal Computer' model aims to run continuously across devices, coordinating local files, apps, and web tasks for enterprise users.

International Energy Agency (IEA) chief Fatih Birol has warned that the world is facing the largest energy crisis in history due to the ongoing war. Speaking at a conference in Paris, he said the current situation has created major economic and energy challenges globally. Birol noted that oil and gas markets are under severe strain, with oil prices exceeding 120 dollars per barrel, putting immense pressure on many countries.

He emphasized that the war has caused unprecedented instability in global energy security. According to Birol, high prices and disruptions in supply chains have pushed the world economy into a difficult period. His remarks highlight the scale of the crisis and the vulnerability of global energy systems under current geopolitical tensions.

The IEA chief’s warning underscores the urgent need for stability in energy markets as nations struggle with rising costs and supply uncertainties.

United Nations Secretary-General António Guterres has warned that restrictions on navigation through the Strait of Hormuz are severely constraining the global economy. Speaking on April 30, 2026, he said the instability caused by ongoing conflict in the region is generating a long-term economic crisis worldwide.

Guterres cautioned that even under the best circumstances, recovery from the current economic shock will not be easy. He noted that lifting all restrictions immediately would still require several months for global supply chains to return to normal. During that period, economic growth would remain weak and high commodity prices would persist.

He further emphasized that the disruption in global supply systems caused by the Hormuz crisis is directly harming the world economy. If the situation continues, he warned, the cost of living for ordinary people will rise further.

A major controversy has erupted after Axel Springer CEO Mathias Döpfner reportedly told journalists at The Telegraph and Politico that they must support Israel or resign. According to Middle East Eye, the remarks were made during an internal meeting on Monday, where Döpfner described support for Israel as a core principle of the company. The issue became public this week as tensions rose within Politico over the directive.

Politico journalists had earlier written to new editor-in-chief Jonathan Greenberger, accusing Döpfner of using the outlet to advance his political agenda. They warned that his recent opinion pieces could damage the publication’s reputation for neutrality. The Jewish Insider also reported that staff expressed concern that his views were undermining Politico’s credibility as an impartial news source.

The controversy follows Axel Springer’s recent approval to acquire The Daily Telegraph, prompting renewed scrutiny of the company’s expansion and editorial influence. Journalists fear that top-down ideological positions could shape coverage, particularly on Israel-related issues.

Paris-based media watchdog Reporters Without Borders (RSF) reported that global press freedom has fallen to its lowest level in 25 years. The organization publishes an annual World Press Freedom Index assessing the degree of freedom enjoyed by journalists and media outlets in 180 countries. The five-tier index rates countries from “very serious” to “good” based on press freedom conditions.

According to RSF, for the first time since the index began in 2002, more than half of the world’s countries are in a “difficult” or “very serious” situation. Only seven countries achieved a “good” rating, with Norway, the Netherlands, and Estonia ranking highest. France placed 25th with a “satisfactory” score, while the United States ranked 64th with a “problematic” score, seven places lower than before. In Latin America, Argentina ranked 98th and El Salvador 143rd.

RSF identified Eastern Europe and the Middle East as the most dangerous regions for journalists, citing Israel’s attacks on reporters in Gaza, the occupied West Bank, and Lebanon. The report also noted that over 60 percent of countries criminalize journalists in various ways, highlighting India, Egypt, Georgia, Turkey, and Hong Kong as key examples of state repression.

A new film based on the life of global pop icon Michael Jackson has cast his nephew Jafaar Jackson in the lead role, raising questions among fans about why the singer’s own sons were not chosen. The mystery was clarified in a recent interview, revealing that Michael’s sons, Prince and Bigi, prefer to remain behind the camera rather than in front of it.

Prince has stated that he does not consider himself skilled enough in singing or dancing to play his father, focusing instead on social work. Bigi, meanwhile, is more interested in directing and producing than acting. Jafaar, the son of Michael’s brother Jermaine Jackson, has trained in music and dance since childhood and reportedly shares a striking resemblance to Michael’s voice and movements.

According to the film’s director, Jafaar’s natural ability and years of preparation made him the best choice to capture Michael’s iconic dance and vocal style. He trained intensively for several years and even kept the casting decision secret from his family for nearly a year.

Global oil prices surged as reports emerged that the United States is preparing to impose long-term sanctions on Iran. On Wednesday, Brent crude prices exceeded 122 dollars per barrel, marking the highest level since 2022. The price later stabilized around 120 dollars after a nearly 10 percent daily increase.

The rise followed stalled ceasefire talks between the United States and Iran and the effective closure of the strategic Strait of Hormuz. According to the Wall Street Journal, former US President Donald Trump has instructed preparations to extend existing blockades on Iranian ports to increase pressure on Tehran. In response, Iran stated it would continue to obstruct shipping through the Strait of Hormuz.

The Guardian reported that this is the first time since Russia’s 2022 invasion of Ukraine that Brent crude has crossed the 120-dollar mark, underscoring renewed geopolitical tensions affecting global energy markets.

The Organization of the Petroleum Exporting Countries (OPEC) is facing one of its biggest crises in 65 years, with officials holding an emergency meeting at its Vienna headquarters. The group is grappling with multiple challenges, including a global energy crisis and the United Arab Emirates’ announcement to leave the organization after years of membership, raising questions about OPEC’s future stability.

The main focus of Wednesday’s meeting was OPEC’s 61st annual report, which detailed global oil import, export, and reserve data. According to the report, global oil demand, reserves, and exports all increased in 2025 compared to 2024, with Asia, Latin America, and the Middle East receiving the largest shares of exports. However, the data reflects conditions before the UAE’s withdrawal decision, which is expected to significantly affect next year’s report.

OPEC officials declined to comment on the UAE’s move or the internal situation, further highlighting the uncertainty surrounding the organization’s cohesion and direction.

Russian President Vladimir Putin has offered to assist the United States in resolving its ongoing dispute with Iran over enriched uranium stockpiles. The proposal came during a one-and-a-half-hour phone conversation between Putin and U.S. President Donald Trump on Wednesday, according to Trump.

Speaking from the Oval Office, Trump said Putin expressed willingness to help but was told to first end Russia’s own conflict in Ukraine. Trump added that Putin wanted to be involved in the uranium enrichment process and believed Moscow could assist Washington in this matter.

Trump described the phone call as highly productive and suggested that a resolution to the Ukraine conflict could come soon, according to his remarks cited in the report.