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Chevron targets massive Iraqi oilfields, replacing Russian firms to expand reserves
Chevron is negotiating to acquire production stakes in the West Qurna 2 and Nasiriyah oilfields in Iraq. The US supermajor intends to replace Russian...
OPEC+ boosts oil output by 188,000 barrels, reversing voluntary cuts
Seven OPEC+ nations, including Saudi Arabia and Russia, will increase oil production by 188,000 barrels per day starting June 2026. Members finalized this...
ADNOC Tanker Targeted by Iranian Drones, Disrupting Global Oil Trade
The UAE government announced Monday that two Iranian drones targeted an Abu Dhabi National Oil Company (ADNOC) tanker. The attack occurred while the vessel...
OPEC+ Hikes June Output After UAE Exit, Seeking Market Stability
Seven OPEC+ members, including Saudi Arabia and Russia, will increase their collective production quota in June. This move adds 188,000 barrels per day to the...
OPEC+ Raises June Oil Output, First Decision After UAE Exit
OPEC+ and its allies agreed to increase oil production by 188,000 barrels per day (bpd) for June. A core group of seven producers, including Saudi Arabia and...
CENTCOM launches Project Freedom in Strait of Hormuz, lowering oil prices
U.S. Central Command (CENTCOM) launched Project Freedom to ensure freedom of navigation through the Strait of Hormuz. The mission involves destroyers,...
OPEC+ Raises Oil Production, Signaling Stability After UAE Exit
Seven OPEC+ nations, including Saudi Arabia and Russia, will increase oil production by 188,000 barrels per day effective in June. The group announced the...
OPEC+ members hike oil production, stabilizing market after surprise UAE exit
Saudi Arabia, Russia, and five other OPEC+ nations will increase collective oil production by 188,000 barrels per day. This output hike begins in June...
Marathon Petroleum offloads final Gulf oil shipment, risking California fuel price spikes
Marathon Petroleum is offloading 2 million barrels of crude at the Port of Long Beach. This vessel represents the final oil tanker to depart the Persian Gulf...
UAE Quits OPEC, Boosting Output to 5 Million Barrels Daily
The United Arab Emirates officially exited OPEC on May 2, with the departure taking effect May 1, 2026. This move allows the nation to maximize oil asset value...
UAE Exits OPEC After 60 Years, Citing Saudi Production Conflict
The United Arab Emirates officially withdrew from OPEC on Friday. This move ends the nation's nearly 60-year membership in the oil cartel. The departure marks...
UAE Exits OPEC, Ending 60-Year Alliance to Boost National Production
The United Arab Emirates officially withdrew from OPEC and the OPEC+ alliance on May 1, 2026. This move ended a membership spanning nearly six decades...
UAE exits OPEC May 1, challenging Saudi control over global oil prices
OPEC ministers are meeting in Vienna today following the United Arab Emirates' announcement to leave the cartel and OPEC+ alliance on May 1. The UAE is...
ConocoPhillips Tops Q1 Estimates, Fueled by Strong Commodity Pricing
ConocoPhillips surpassed Wall Street expectations in its first-quarter 2026 financial results. The company reported adjusted earnings of $1.85 per share. Total...
UAE Exits OPEC to Expand Production, Sending Brent Above $115
The United Arab Emirates announced its official withdrawal from OPEC and the OPEC+ alliance on April 29, 2026. This decision ends a membership spanning nearly...
UAE Exits OPEC for Policy Flexibility, Driving Brent Above $114
The United Arab Emirates (UAE) announced its departure from OPEC and the OPEC+ alliance on Wednesday. This exit becomes effective on May 1, 2026. Energy...
UAE Quits OPEC for Production Flexibility, Pushing Brent Crude to $111
The United Arab Emirates (UAE) announced its departure from OPEC on April 29, 2026, ending nearly 60 years of membership. The move becomes effective May 1....
Blackstone to invest €2B in Eurowind, targeting Europe’s rising power demand
Blackstone Infrastructure signed a definitive agreement to invest up to €2 billion in Eurowind Energy. The developer manages renewable energy projects across...
UAE Exits OPEC to Boost Output, Targeting 5 Million Barrels
The UAE Ministry of Energy and Infrastructure will withdraw from OPEC and the OPEC+ coalition effective May 1, 2026. This decision follows a period of...
UAE quits OPEC after 57 years, to boost oil production
The United Arab Emirates will withdraw from OPEC effective May 1. This decision disrupted global energy markets. The UAE has held membership in the cartel...