Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman are adjusting oil production and reaffirming their commitment to market stability.
INTERNATIONAL Feed Atom
Turkey and Iraq signed a one-year agreement on maintaining use of the crude oil pipeline between the two countries, Turkish Energy Minister Alparslan Bayraktar said on Saturday.
Top U.S. oil producers ExxonMobil and Chevron warn that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions.
Abu Dhabi National Oil Co (ADNOC) has bought five very large crude carriers (VLCCs) for about $590 million, three sources familiar with the matter said, expanding its fleet as conflicts in the Red Sea and the Strait of Hormuz tighten tanker supply.
Kazakhstan's main oil export terminal in the Black Sea closed on Thursday for the third time this month, suspending crude tanker loadings after Ukrainian drones hit two vessels at and near the terminal at Russia's Novorossiysk port.
A cargo of Canadian crude was headed to Japan, ship tracking data showed on Wednesday, the first Canadian crude shipment to the country since early 2025, as the war between the U.S. and Iran has tightened supplies of Middle East crude.
The MERA Oil consortium of U.S. and Saudi Arabian companies is advancing plans for a $5 billion integrated refinery and export corridor in the Gulf aimed at boosting regional energy infrastructure, its partners said on Wednesday, as the Iran war continues to disrupt energy flows.
India plans to buy up to a quarter of its liquefied petroleum gas imports from the United States in 2027, a move that would cut its reliance on the Middle East and support efforts to secure a trade deal with Washington, three sources with knowledge of the matter said.
Kazakhstan, among the world's 10 biggest oil producers, has more than halved its daily oil output following the closure of main exporting terminal in Russia's Black Sea over drone attacks, an industry source said on Monday.
The US has imported fuel oil of Iraqi origin shipped through Syria for the first time, marking a new milestone in Iraq’s efforts to diversify its export routes amid ongoing disruptions to Gulf shipping caused by the Iran war.
The U.S. Department of Energy has authorized Argent LNG to export liquefied natural gas from its proposed Louisiana export terminal to countries that have free-trade agreements with the U.S., giving the developer a key federal approval as it works toward a final investment decision on the project.
Asia spot liquefied natural gas prices rose for a fifth consecutive week to their highest in four months on fears of wider shipping disruptions, as Houthi attacks on Saudi oil tankers extended the Middle East war to a second major chokepoint.
Asian and European buyers of liquefied natural gas (LNG) plan to ask for lower prices and additional supply guarantees from Qatar and the United Arab Emirates as the U.S.-Iran war raises insurance costs on those deliveries, buyers, traders and industry executives told Reuters.
Crude oil exports from Saudi Arabia fell for a third straight month in May to a record low, data from the Joint Organizations Data Initiative (JODI) showed on Tuesday, with the U.S.-Iran conflict disrupting shipments across the Gulf.
U.S. gasoline pump prices crossed the $4 a gallon mark on Monday as renewed hostilities between the U.S. and Iran further disrupt energy flows through the Strait of Hormuz, a critical route for global oil supplies.
Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia's Black Sea coast, CPC said on Sunday, adding that oil loadings are suspended.
Canada’s largest oil refinery is planning to shut down for maintenance in the fall, potentially exacerbating fuel market tightness in northeastern U.S. states that rely on the plant for gasoline and diesel imports.
If the U.S. and Iran do not increase oil flowing through the Strait of Hormuz soon, the world should worry about energy security, International Energy Agency Executive Director Fatih Birol said on Thursday.
The Bill exempts countries, mostly European nations, whose imports of Russian natural gas account for less than 15% of Russia's total natural gas exports and which are taking significant steps to reduce those imports.
The United Arab Emirates raised its crude oil production by 1,707 thousand barrels per day in June 2026, reaching 3.818 million barrels per day, according to OPEC's monthly report cited by Trading Economics. This output level is the highest recorded since April 2020.