77 articles
Adnoc plans to supply Upper Zakum crude via a new Fujairah pipeline starting early 2027, enabling buyers to bypass the threatened Strait of Hormuz. This move supports the UAE's strategy to reduce reli
Oil prices exceeded $106/barrel after attacks on Saudi Aramco and tankers threatened Gulf supplies. OPEC raised its 2027 demand forecast citing inventory replenishment needs amid ongoing regional conf
OPEC raised its 2027 global oil demand growth forecast for the sixth consecutive month while lowering the 2026 projection, expecting a daily increase of 2.55 million barrels in 2027.
OPEC reported Russia's crude production decline slowed in September to 8.643 million barrels per day despite ongoing refinery attacks. Overseas shipments rose to 3.76 million barrels daily as producer
Saudi Arabia reported to OPEC that crude production surged by roughly 2 million barrels per day to recover from a three-decade low. Concurrently, OPEC slashed its global oil demand growth estimate to
OPEC has revised down its 2026 oil demand growth forecast to 400,000 barrels per day from 1.4 million bpd. The organization anticipates the deferred demand will materialize in 2027.
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
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