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Here's your midday brief for Tuesday, April 28th. I'm Anthony Bansy for the Wall Street Journal.

The United Arab Emirates says it's leaving OPEC, which would remove 13% of the oil cartels production capacity. The UAE said it would

also exit OPEC Plus, a group of major oil producers that includes Russia. The UAE has the ability

to produce 4.8 million barrels of oil a day, but under OPEC's quota system, is currently

allowed around 3.4 million barrels a day.

The country's departure deals a heavy blow to OPEC as the war in Iran scrambles alliances

and investment priorities among the world's top oil producers.

General Motors beat Wall Street's profit estimates for the first quarter and raised its

outlook for the year.

GM sold fewer electric vehicles, which benefited its bottom line for the quarter since it

loses money on EVs.

The automaker also expects a $500 million tariff refund following the Supreme Court's rejection

of President Trump's emergency tariffs.

Revenue fell less than 1%, reflecting that higher gas prices

hasn't hurt demand for cars. And Kimberly Clark today reported higher profit and rising sales for

the first quarter. The company says consumer demand has been resilient. Looking forward, the

maker of Kleenex tissues and Huggy's diapers says it expects a $50 million hit to its bottom line from higher costs related to the conflict in the Middle East.

Heads up an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor.

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