Crude Oil News

Historically, Iran has managed to shut in and restart oil production without long-term damage to reservoirs or infrastructure.

UAE Energy Minister Suhail Mohamed al-Mazrouei told Reuters the decision was taken after a careful look at the regional power's energy strategies.

Oil and gas output gained 0.4% to 131.5 million barrels of oil equivalent during the ​quarter, including 63.4 million ​barrels of crude ⁠oil pumped domestically, up 1%.

Gas supply averaged 7.5 billion standard cubic feet per day in 2025, supported by new agreements with industrial users.

Investors are seeking guarantees for the risk of volume disruptions through Kuwait’s pipeline network and the Strait of Hormuz, one of the sources said.

Steeper oil prices are stoking inflation globally, and the ⁠Gulf economies ​aren't immune.

Under the 2026 state budget, Indonesia targets crude oil production of 610,000 barrels per day.

The U.S. ​sanctions ⁠on Hengli Petrochemical (Dalian) Refinery lack factual and legal basis, Hengli ⁠said, ​pledging to strive ​to lift relevant restrictions.

Global ​oil demand expected to fall 1.7 ​million bpd ⁠in Q2, 100,000 bpd in 2026 on year given jump in refined product prices.

Diesel ​and jet fuel ​have seen the biggest price impact.