OPEC
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UK Jury Acquits Former Nigerian Oil Minister Diezani Alison-Madueke of Bribery Charges
A London jury has acquitted former Nigerian Petroleum Minister Diezani Alison-Madueke of six bribery charges, concluding a five-month trial that followed a decade-long investigation.
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Global Oil Markets Face Volatility Amid Strait of Hormuz Tensions
Oil prices remain volatile as geopolitical tensions in the Strait of Hormuz disrupt supply chains, with WTI crude expected to fluctuate between $71 and $106 throughout June.
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UAE Announces Exit From OPEC Amid Regional Energy Crisis
The United Arab Emirates will officially withdraw from OPEC this week, citing a need for policy agility as the conflict with Iran restricts global oil transit through the Strait of Hormuz.
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Middle East Oil Output Plummets Amid Iran War, IEA Warns of Demand Destruction
Global oil demand forecasts are slashed as the US-Israel war on Iran disrupts supply and triggers a 27% drop in OPEC production, with prices nearing $100.
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Ras Tanura Refinery Attack Signals Escalation in Middle East War
Saudi Arabia’s vital Ras Tanura oil refinery was attacked by drones Monday, signaling a dangerous escalation in the Middle East conflict and causing global oil prices to surge significantly.
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Oil Prices Top $80 Amid Rising Middle East Tensions
Brent crude prices surged above $80 a barrel after US-Israel strikes on Iran and reports of Supreme Leader Khamenei’s death heightened regional instability.
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Oil Tankers Halt in Hormuz Amid Gulf Missile Exchanges
Oil tankers have paused operations in the strategic Strait of Hormuz following US-Israel strikes on Iran and Tehran’s retaliatory missile launches. This escalation threatens global energy supplies.
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Chevron Stock Rises Ahead of OPEC+ Meeting: Market Factors and 2025 Trends
Chevron stock climbed 2.3% to $155.90 as energy shares rallied ahead of the OPEC+ supply decision. Despite a challenging year for oil prices, investors focus on upcoming market catalysts and sector-wide trends shaping the outlook for 2026.
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Oil Prices Hold Steady After US Strike on Venezuela Amid Global Oversupply
Despite the US attack on Venezuela and mounting geopolitical risks, oil prices remain stable, reflecting a globally oversupplied market and cautious reactions from traders and producers.
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Maduro Appeals to OPEC as US-Venezuela Tensions Escalate Over Oil and Military Moves
As US-Venezuela relations hit a boiling point, President Maduro turns to OPEC for support against American military buildup and oil ambitions, while Washington intensifies pressure amid disputed allegations.
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OPEC+ to Discuss Further Delays in Oil Output Amid Price Challenges
OPEC+ is set to convene online on Thursday to deliberate a further delay in its planned revival of oil production, a move driven by persistently low crude prices and market volatility. Led by Saudi Arabia and Russia, the alliance has…
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Global Oil Prices See Significant Gains After OPEC+ Postpones Production Increase
Oil prices jumped sharply on Monday after OPEC+ announced its decision to delay December’s planned production increase by one month. The market remains tense as it anticipates both the U.S. presidential election and a key meeting in China this week.…