August 12, 2026 Trump Puts 81 Million Gulf Acres Up for Oil and Gas Auction The Trump administration will put oil and gas leases covering more than 81 million acres in the Gulf of Mexico up for auction on Wednesday, August 12, in the third of […] Oil Price
August 12, 2026 Ukraine Halts Oil Tanker Attacks on JD Vance Request The Ukrainian forces have reportedly suspended drone attacks on oil tankers at the port of Novorossiysk following a request by U.S. Vice-President JD Vance, the Financial Times wrote today, citing unnamed Ukrainian […] Oil Price
August 11, 2026 Global Gas Turbine Orders Hit Record High as Power Demand Surges Global orders for gas turbines have hit a record high as demand for power generation surges, according to JP Morgan. New gas turbine orders in the second quarter stood at […] Oil Price
August 11, 2026 Libya Weighs Force Majeure After Drone Attacks on Zawiya Oil Hub Libya’s National Oil Corporation may declare force majeure on exports from the Zawya oil terminal as a result of drone attacks on the facility. The Zawya terminal has a daily […] Oil Price
August 11, 2026 China’s Teapot Refiners Poised to Ramp Up Iranian Oil Buying China’s independent refiners are likely to return to buying higher volumes of Iran’s crude oil this month as stockpiles in Shandong, home to the independent Chinese refiners, have dropped to […] Oil Price
August 11, 2026 Hormuz Traffic Sinks to Six Vessels Monday as Iran Talks Stall Again Vessel traffic at the Strait of Hormuz continues to decline as last week’s hopes of negotiations of a U.S.-Iran deal began to fade, yet again. On Monday, only six commodity vessels […] Oil Price
August 11, 2026 OPEC Output Climbs Again, But Still Trails Quota Targets OPEC’s total oil production jumped by 1.17 million barrels per day in July from June as many Gulf producers restored some output that was shut in for three months due […] Oil Price
August 10, 2026 Oil Prices Rise as Iran Hardens Hormuz Demands Crude oil prices began this week with a gain following a statement by Iran setting six demands for a peace deal with the United States and claims from the Houthis that they […] Oil Price
August 10, 2026 Hormuz Tensions Surge After Reports of Another Tanker Strike Iran has reportedly hit another tanker in the Persian Gulf, off the coast of Oman, setting it on fire, Gulf News reported earlier today, noting the information had yet to be verified. […] Oil Price
August 10, 2026 ADNOC Gas Unveils $8.2 Billion Expansion Push ADNOC Gas, the gas business of the Emirati energy major, will spend more than $8 billion on its Rich Gas Development project, the company said today, as it eyes 60% growth in […] Oil Price
August 10, 2026 Kazakhstan Weighs New Routes as Drone Strikes Squeeze Black Sea Oil Exports Kazakhstan is looking to re-route part of its crude oil exports away from its Black Sea export terminal and on pipelines through Azerbaijan, Georgia, and Turkey amid continued threats to […] Oil Price
August 10, 2026 Heat Waves Could Cost the EU 1% of GDP, Dutch Bank Says This year’s heat waves and related productivity declines and lower agricultural output could erase as much as 1% of the gross domestic product of the European Union, wiping out most […] Oil Price
August 7, 2026 Oil Prices Jump as Houthi Attacks Raise Saudi Supply Risks The Yemeni Houthis have struck Saudi Arabia’s southern province of Najran in the latest flare-up of Middle Eastern hostilities, killing 11 civilians, Reuters has reported, citing a spokesman for the […] Oil Price
August 7, 2026 China’s Crude Imports Bounce Back After Historic June Slump China’s crude oil imports reversed an earlier decline, rising by 22% from June to an average daily of 8.45 million barrels, or a total of 35.73 million tons, Bloomberg reported today, citing […] Oil Price
August 7, 2026 India’s Crude Oil Output Falls for Third Straight Year India’s crude oil production fell for the third consecutive financial year in 2025/2026, the government said as it launches a push to boost offshore oil and gas exploration. India’s crude output fell […] Oil Price
August 7, 2026 India Remains Dependent on Imports for 90% of Oil Demand Despite a decline in dependence on primary energy imports, India remains highly dependent, at a massive 90%, on crude oil imports for its consumption, a new industry report has shown. India’s dependence […] Oil Price
August 6, 2026 Iran and Oman Near Landmark Deal to Manage Strait of Hormuz Iran and Oman are close to agreeing on joint management of the Strait of Hormuz, media have reported, citing a statement by Iran’s foreign ministry spokesman, Esmaeil Baghaei. Crude oil […] Oil Price
August 6, 2026 U.S. Diesel Exports Hit Record High as Domestic Stockpiles Slide Diesel fuel exports from the United States hit an all-time high last week, driven by shortages of the fuel in other parts of the world as a result of the […] Oil Price
August 6, 2026 How the UAE Has Kept Its Oil Flowing Through Hormuz The United Arab Emirates has managed to boost its oil exports to pre-crisis levels as early as June, as it has kept pushing crude through the Strait of Hormuz and […] Oil Price
August 6, 2026 Nigeria Eyes $50 Billion From 22 Offshore Oil and Gas Projects Nigeria expects to attract investments worth between $30 billion and $50 billion from 22 offshore oil and gas projects over the nest five years, the country’s Upstream Petroleum Regulatory Commission […] Oil Price
August 5, 2026 Oil Price Rally Boosts Glencore’s First-Half Profit Commodity producing and trading giant Glencore booked a $4.4-billion net income for the first half of the year, a jump of $5 billion from a loss a year earlier, as […] Oil Price
August 5, 2026 Houthis Claim Ballistic Missile Hit on Saudi Oil Tanker in Red Sea The Iran-aligned Houthi group in Yemen on Wednesday claimed a “precise hit” on a Saudi oil tanker in the Red Sea, Houthi military spokesperson Yahya Saree said. “The Yemeni Armed Forces […] Oil Price
August 5, 2026 Iraq-Syria Pipeline to Bypass Hormuz Could Be Revived Within 3 Years An old Iraq-to-Syria oil pipeline that bypasses the Strait of Hormuz could be up and running within three years, a senior Syrian official has said. The Hormuz crisis that cut […] Oil Price
August 5, 2026 India Weighs Gas Levy to Bankroll $42 Billion Fuel Reserve Plan Just a day after details emerged of India’s plans to expand strategic crude oil storage, new reports claim New Delhi is considering a new funding mechanism that would shift part of […] Oil Price
August 5, 2026 India Hopes To Take Over Operation Of Venezuelan Oil Fields From PDVSA India’s ONGC is poised to take over operation of two Venezuelan oil projects from state-owned PDVSA, which would give the Indian producer direct operational control over assets of the world’s […] Oil Price
August 4, 2026 Saudi Aramco’s Adjusted Profit Jumps 33% as Oil Prices Surge Saudi Aramco saw its adjusted net income jump by 33% for the second quarter from a year earlier as high oil prices and the oil giant’s ability to re-route most […] Oil Price
August 4, 2026 BP Earnings Surge to $5.7 Billion on Oil Price and Refining Boom BP more than doubled its profit for the second quarter from a year earlier on the back of higher oil and gas prices and stronger refining margins driven by the […] Oil Price
August 4, 2026 India Expands Oil Storage Sites After Shock Supply Disruption India’s state-owned Oil and Natural Gas Corporation (ONGC), the top explorer in the country, will build a new storage site at Mangaluru to hold about 13 million barrels of oil […] Oil Price
August 4, 2026 Pakistan Partners with Canadian Firm to Boost Domestic Heavy Crude Output Pakistan’s national Oil and Gas Development Company Limited (OGDC) has signed an agreement with a Canadian firm to deploy advanced technology to boost production from heavy crude oilfields, the largest […] Oil Price
August 4, 2026 Hormuz Tanker Traffic Stalls at Two-Month Low as Attacks Escalate Traffic at the Strait of Hormuz remains at the lowest in more than two months as security concerns have intensified with recent attacks on ships and persistent threats to shipping […] Oil Price
