71 articles
Brent crude surpassed $110/barrel amid escalating Middle East tensions threatening key transit routes, while Saudi exports dropped sharply. OPEC reduced its 2026 demand forecast despite Chinese refine
Oil prices are projected to close above $100 per barrel amid escalating Middle East conflicts threatening supply routes. Analysts cite geopolitical risks and OPEC's lowered demand forecast as key driv
OPEC reduced its 2026 global oil demand growth forecast to 380,000 barrels per day, marking the fifth consecutive downward revision, while raising expectations for 2027 growth.
Saudi Arabia reported to OPEC that crude oil production fell to its lowest level since 1990 due to US-Iran hostilities affecting export routes. Brent crude surged above $100 per barrel amid concerns o
OPEC crude output fell by 640,000 barrels per day to 19.71 million bpd in August due to disruptions in Saudi and Iranian shipments. Geopolitical conflicts prevented OPEC+ members from executing planne
OPEC crude production fell 900,000 barrels per day in August as Saudi output plummeted amid regional security threats disrupting export routes. Brent crude futures approached $100 per barrel while Ven
Venezuela considers exiting OPEC following the UAE, threatening the group's cohesion and potentially increasing global oil price volatility amid shifting geopolitical dynamics. Analysts warn fragmenta
Venezuela considers exiting OPEC amid deepening US ties, potentially weakening the cartel's influence on crude prices. While immediate market impact is limited, the move could reshape long-term global
OPEC crude oil production increased by 1.17 million barrels per day in July to 19.85 million, driven by Iraq and Kuwait, though supply remains below pre-conflict levels amid ongoing geopolitical shipp
Oil prices fell over $1 after OPEC and IEA cut 2026 demand forecasts, though Middle East conflict risks supported prices. U.S. crude inventories also rose unexpectedly amid deadlocked US-Iran negotiat
OPEC lowered its 2026 global oil demand growth forecast to 580,000 barrels per day, marking the fourth straight downward revision. The group simultaneously raised its demand growth projection for 2027
OPEC oil output rose by 1.17 million barrels per day in July to 19.85 million bpd, driven by Gulf producers restoring supplies despite regional conflicts. Iraq recorded the largest increase, while US
OPEC crude oil production rose by 1.16 million barrels per day in July, led by gains in Kuwait, Saudi Arabia, and Iraq. This supply increase helped cool prices below $80 per barrel despite persistent
The IEA and OPEC have both lowered their 2026 global oil demand forecasts, signaling a potential demand decline for the first time since 2020. Geopolitical tensions and energy transitions continue to
President Trump teased massive new oil deals with Iraq during a White House visit from Prime Minister Ali al-Zaidi, highlighting increased American business involvement. The agreements aim to boost Ir
OPEC lowered its 2026 oil demand growth forecast to 780,000 barrels per day, marking the third consecutive downward revision. The group raised its 2027 outlook while expecting less consumption impact
UAE reported an 80% surge in oil production to OPEC, reaching 3.8 million barrels daily in June after leaving quotas. This supply increase created a surplus in Asia, prompting Saudi Arabia to offer ra
The IEA reported UAE crude production hit a record 4.1 million barrels per day in June following its OPEC exit. This surge, aided by expanded shipping capacity amidst regional conflict, has shifted gl
Iraqi Prime Minister Ali al-Zaidi confirmed Iraq will remain in OPEC while seeking a fairer production quota, following earlier reports that the country considered exiting if output limits remained re
UAE crude output hit near-record highs above 3.8 million barrels per day in June after leaving OPEC to escape production caps. This level exceeds pre-war figures, validating the decision to abandon qu
Asian equities advanced while oil prices dipped following OPEC+ signals for higher supplies. Technology stocks led gains ahead of earnings, with precious metals and currencies also seeing activity.
OPEC oil output rose by 3.3 million barrels per day in June to 19.43 million bpd, recovering from two-decade lows as Gulf producers revived supplies. Key increases came from Kuwait and Iran following
OPEC crude production rose by 2.34 million barrels per day in June as exports resumed through the Strait of Hormuz following a US-Iran accord. Rising supply amid subdued demand is creating market surp
Oil prices held steady this week on hopes of US-Iran peace deals, while OPEC output surged in June and Saudi Aramco adopted spot pricing. Increased shipments through the Strait of Hormuz have shifted
UAE restored crude oil exports to pre-war levels exceeding 3.9 million barrels daily by utilizing dark tankers and bypass pipelines amid regional conflict. Following its exit from OPEC, increased supp
UAE crude exports reached a record 3.7 million barrels per day in June following its departure from OPEC, driven by increased supply and inventory unwinding amid regional security concerns.
Iraq urges OPEC to increase crude oil production quotas following capacity recovery and Hormuz Strait reopening, while denying exit plans. Analysts warn this dispute may strain OPEC+ cohesion and infl
Following a US-Iran ceasefire, 14 million barrels of stranded Iraqi oil exited the Persian Gulf via the Strait of Hormuz over ten days. Iraq now seeks increased OPEC production quotas to recover lost
Iraq's Oil Ministry stated OPEC is restoring pre-war production allocations while Baghdad seeks a quota review. Officials denied exit rumors despite export disruptions impacting the nation's oil-depen
OPEC projects global oil demand will not peak before 2050, rising to 124 million barrels daily. Policy shifts and emerging market growth are expected to drive $17.7 trillion in industry investment.
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