Israel Today: Ongoing War Report - Update from 2026-05-01 at 15:01

HEADLINES
UAE exits OPEC, gains five million bpd
BoP denies Kiryat Gat closure, transitional Gaza
US support cools on Israel, policy persists

The time is now 3:01 PM in New York, I'm Noa Levi and this is the latest Israel Today: Ongoing War Report.

In Fractures rock Gulf alliance as UAE quits OPEC during Iran war - analysis, the United Arab Emirates announced on Tuesday that it would withdraw from OPEC and OPEC+, ending nearly six decades in the oil producers’ cartel. The move removes the alliance’s third-largest producer just one day before members were set to meet in Vienna, and it comes as the war between Iran and the US-Israeli coalition enters its ninth week. The exit takes effect on May 1 and gives Abu Dhabi full control over the production capacity it has spent years expanding toward 5 million barrels per day, freeing the UAE from the quota system through which Saudi Arabia has coordinated Gulf oil policy for decades. Rauf Mammadov, a former official at SOCAR, now at Fuld & Company, described the exit as a significant blow to OPEC and particularly to Saudi Arabia. He estimated UAE production accounts for 9%-11% of OPEC output and roughly 5% of OPEC+ output.

In BoP denies rumors of Kiryat Gat base closure, says it will establish 'transitional Gaza gov't', the Gaza Board of Peace denied Friday’s rumors about closing its Civil-Military Coordination Center in Kiryat Gat, saying the Reuters report was wrong and that the CMCC is advancing its efforts every day to continue delivering aid at a level unprecedented in modern history. The CMCC has also played a critical role in advancing security. The ceasefire has continued to hold despite all the predictions from so-called experts. We now have a pathway to the establishment of a transitional government in Gaza and the International Stabilization Force, the statement posted on X read. Quite simply, life for the people of Gaza gets better on a daily basis. The CMCC has been an essential part of this story and will continue to be mission-critical to our efforts, the statement concluded. Reuters had reported earlier that the US military-run center near Gaza was set to be shut by the Trump administration, a move diplomats said would underscore difficulties facing US efforts to oversee the truce and coordinate on aid, as Hamas firms its grip in areas under its control.

In The great disconnect: Why Israel is losing America while winning in Iran - opinion, the article notes that while the halls of power in Washington have echoed with strong backing for the State of Israel, public and generational support is eroding across nearly every demographic. The White House and the Pentagon have framed the US-Israel partnership as the cornerstone of American foreign policy, and a UK ambassador labeled the US-Israel bond as the truly “special” relationship. Yet a historic decoupling is visible as the military-industrial complex remains in lockstep with Israel while the American people move toward the exit. The disconnect is most evident when listening to American service members and defense officials, highlighting a widening gap between policy consensus and public sentiment.

In Your Taxes: Israel’s lower mid-market is tempting international M&A buyers, the article explains that the lower mid-market, typically defined by companies with revenues between $2 million and $20 million, has historically been underrepresented in cross-border M&A but is increasingly attracting international buyers. In 2006, Warren Buffett acquired an 80% stake in Iscar, a precision metalworking business in Tefen, for roughly $4 billion, and seven years later bought the remaining 20% at a valuation north of $10 billion. Buffett’s moves illustrate a pattern where investors view Israel’s quieter mid-market as ripe for consolidation, even as the country’s broader reputation as a technology powerhouse continues to attract interest, suggesting a ripe environment for future cross-border deals.

Thank you for tuning in to this Israel Today: Ongoing War Report update.
I'm Noa Levi. Stay safe and informed.
Keep in mind that this AI-generated report may contain occasional inaccuracies, so consult multiple sources for a comprehensive view. Find the code and more details in the podcast description.

SOURCES
https://www.jpost.com/middle-east/article-894853
https://www.jpost.com/middle-east/article-894852
https://www.jpost.com/opinion/article-894692
https://www.jpost.com/business-and-innovation/banking-and-finance/article-894759