US considering Iranian oil supplies to China
U.S. President Donald Trump said he will make a decision over the next few days about lifting sanctions on Chinese oil companies that buy Iranian oil.
oil prices
IEA expects global oil supply to decline in 2026
The International Energy Agency (IEA) has raised its forecast for global oil supply in 2026 by 2.5 mln barrels per day (bpd) compared with its previous report, according to the organization’s latest report. As a result, global oil supply this year is expected to fall by 4 mln bpd to 102.2 mln bpd.
Global oil reserves rapidly depleting amid Middle East conflict - Bloomberg
Global oil reserves are declining rapidly due to the conflict with Iran and the closure of the Strait of Hormuz, with inventory levels approaching a 2018 low, Bloomberg reported
Oil production in OPEC states down to record minimum
Oil production in OPEC countries dropped in April 2026 by 420,000 barrels per day to a 36-year minimum, Bloomberg reported.
Iraq encouraging oil exports with big discounts - report
Iraq has sharply cut oil prices for buyers willing to ship crude through the Strait of Hormuz amid the escalating tensions in the region, Bloomberg reported.
Oil prices to go down after Iran war - Trump
U.S. President Donald Trump has declared he believes oil prices will drop “very rapidly” once the conflict with Iran is over.
Oil prices slide but remain elevated
Oil prices pulled back on Tuesday after a sharp increase a day earlier.
Iran may begin mothballing its oil wells - Bessent
Iran may have to begin mothballing its oil wells next week as its storage facilities are rapidly filling up, U.S. Treasury Secretary Scott Bessent said.
Deep crisis seen on global oil market - Novak
The global oil market is experiencing a deep crisis, with large volumes of oil not reaching the market, Russian Deputy Prime Minister Alexander Novak said.
Azeri Light crude oil surpasses 120 dollars per barrel
The price of Azerbaijan’s Azeri Light crude has increased by $6.43, or 5.55%, from the previous level, coming in at $122.32 per barrel, media reported.
Trump discusses consequences of Iran war with oil executives
U.S. President Donald Trump and his top officials met with oil and gas executives including Chevron CEO Mike Wirth at the White House on Tuesday to discuss the energy fallout of the Iran war and other topics, Axios reported.
UAE exit from OPEC to hinder Saudi Arabia's influence on oil prices - report
The United Arab Emirates exit from OPEC would be painful for the oil cartel, undermining Saudi Arabia’s ability to influence global oil prices through it, the Canadian newspaper The Globe and Mail said.
UAE to leave OPEC and OPEC plus
The United Arab Emirates decided to exit from OPEC and OPEC+ from May 1 of this year, WAM state agency said.
Brent oil price exceeds 111 dollars per barrel
The price of futures contracts of Brent crude oil for July 2026 delivery on London’s ICE has increased to over $111 a barrel for the first time since April 7, 2026, according to trade data.
Strait of Hormuz blockade affects everyone - Russian Foreign Ministry
The restricted shipping in the Strait of Hormuz and the U.S. naval blockade of Iran affect Russia, Russia's Deputy Foreign Minister Alexander Pankin said.
Oil prices rising on Strait of Hormuz tensions
Oil prices extended their gains on Thursday, rising more than $1 in the wake of stalled peace talks between Iran and the U.S. and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz. …
Unblocking Strait of Hormuz to take six months - report
The U.S. military estimates that it may take up to six months to fully clear the Strait of Hormuz of mines, The Washington Post reported, citing sources.
Russian oil exports to China up 31 percent
Russia’s crude oil supplies to China have increased by 31% in Q1 2026 year-on-year to 31.86 mln tons, according to figures released by the General Administration of Customs of China.
Oil prices jump once again
Oil prices rose sharply on Monday, after the U.S. seizure of an Iranian vessel hit hopes for a peace deal.
Washington expects oil prices to peak in coming weeks
Oil prices are likely to hit their peak "in the next few weeks" once ship traffic resumes through the Strait of Hormuz, U.S. Department of Energy Secretary Chris Wright said.
