IEA Mulls Emergency Action To Unleash Oil Reserves
Global energy leaders are gathering to decide whether to release emergency oil reserves as production and export disruptions tied to the Middle East conflict continue to strain global markets. The…
Fujairah Bunker Hub Disrupted as Drone Debris Damages Oil Storage
Marine fuel supply at the major Middle East bunkering hub of Fujairah has been disrupted after debris from an intercepted drone sparked a fire at an oil storage facility, forcing…
Oil Shock Lifts EIA Price Outlook as Hormuz Crisis Reshapes Forecast
The U.S. Energy Information Administration sharply revised its oil price outlook in its latest Short-Term Energy Outlook (STEO) based on the growing impact of the Middle East conflict and the…
India’s Top Bank Avoids Russian Oil Payments Despite U.S. Sanctions Waiver
State Bank of India, the largest lender in the country, continues to shun processing payments for purchases of Russian oil despite the temporary U.S. waiver for India to buy Russia’s…
Saudi Aramco Sees 1.1 Million Bpd Oil Demand Growth in 2026
Global oil demand is set to grow by 1.1 million barrels per day (bpd) this year to a new record high, according to the world’s single largest crude exporter, Saudi…
Europe and Asia Battle for Critical Spot LNG Supply
Asia is struggling to obtain spot LNG cargoes for emergency supply this month as the halt to Qatar’s exports tightened the market and reignited competition with Europe for promptly available…
Trump’s Clean Energy ‘Assault’ Sinks Solar Installation Numbers
While solar capacity additions remained the top U.S. source of new power for the fifth consecutive year in 2025, installations slumped by 14% last year, as the Trump Administration’s assault…
Aramco Warns of Catastrophic Consequences from Hormuz Crisis
The oil market would experience “catastrophic consequences” if the halt to Strait of Hormuz tanker traffic continues, according to Saudi Aramco, the world’s top crude exporter and biggest oil firm. …
Gulf Producers Slash Oil Output by 5 Million Bpd
The largest oil producers in the Middle East Gulf have deepened production cuts and are already lowering output by a combined more than 5 million barrels per day (bpd) as…
GPS Jamming Chaos Grips Vital Oil Chokepoint
Clusters containing dozens of vessels each appear to signal positions in and around the Strait of Hormuz, suggesting that electronic interference and GPS jamming have soared at the critical oil…
