Iraq Denies Government Proposals to Leave OPEC
Iraq’s Ministry of Oil denied government proposals to leave OPEC, emphasizing commitment to production quotas.
Tankers with 35 million barrels of oil leave the Strait of Hormuz after US-Iran deal
This is according to data from Kpler, a company that tracks global trade flows.
Rubio heads to Gulf after rocky start to US-Iran talks
US Secretary of State Marco Rubio visits Gulf allies amid tense US-Iran negotiations and regional conflicts.
OPEC Predicts Increase in Oil Demand to 124 Million Barrels per Day by 2050, Sees No Peak
OPEC cites the global shift towards more favorable oil use policies, as well as increased attention to energy security and energy accessibility.
Syrian Oil Company Signs Contract with ConocoPhillips and Novaterra to Develop Gas Sector
This agreement is part of Damascus’ efforts to attract international investments to develop the energy sector and improve production.
Russia’s Oil Export Value Hits Post-February 2022 High
Russia’s oil export value has reached its highest level since February 2022, averaging $2.42 billion weekly, driven by increased volumes and prices.
Trump Approves ‘Keystone Light’ Pipeline for Canadian Oil Transport
U.S. President Donald Trump has approved the “Keystone Light” pipeline project, aiming to transport Canadian crude oil to the U.S. despite environmental concerns.
S&P 500 Retreats from Record High Amid Middle East Tensions
The S&P 500 fell 0.5% from its record high as Middle East tensions escalated and investors prepared for earnings season. Analysts warn against confusing a narrow rally with a broad market signal.
US-Iran Truce on Brink of Collapse: UAE Reports Attacks, US Claims Boats Sunk
The US-Iran truce is on the brink of collapse after the UAE reported drone and missile attacks, and the U.S. claimed to have sunk Iranian boats.