Gulf oil exports jump in June on record UAE flows

Brent crude oil surges past $116 as Iran conflict, UAE OPEC exit, and US inventory declines drive prices

Brent crude oil futures surged over 7% to nearly $120 per barrel, the highest level since June 2022, driven by the ongoing Iran conflict, th

OPEC+ approves fourth straight monthly oil output quota hike

Oil prices surge above $100 despite IEA reserve release amid Gulf tensions

Oil prices surged above $100 per barrel despite the International Energy Agency's announcement to release record amounts of oil reserves. Th

Saudi Arabia doubles oil shipments through Strait of Hormuz after U.S.-Iran deal

Saudi Arabia has significantly increased oil shipments through the Strait of Hormuz following the U.S.-Iran agreement to reopen the sea lane

Exxon executive warns Middle East disruptions could spike oil prices and impact food, plastics, and shipping

Exxon executive Neil Chapman warned at an investors conference that Middle East supply disruptions, particularly a potential closure of the

United Arab Emirates announces withdrawal from OPEC oil cartel

The United Arab Emirates has announced its decision to leave OPEC and OPEC+, the major oil-producing cartels. OPEC was founded in 1960 by fi