OPEC Freezes Oil Production While US Firms Rake $130B Profits

OPEC+ keeps December oil output targets steady as Iran war disrupts flows and clouds 2027 production plans. Read more at straitstimes.com.

South Korea's Sinokor controls about half the tanker transits through the Strait of Hormuz, benefiting from a big bet just before the war in Iran started.

OPEC+ keeps December oil output targets steady ahead of tougher call for 2027

LONDON/MOSCOW, Nov 1 : OPEC+ oil-producing countries were set to keep oil production targets steady for December at a meeting on Sunday as the group still struggles with export disruptions from the [···]

LONDON/MOSCOW, Nov 1 : OPEC+ oil-producing countries kept production targets steady for December at a meeting on Sunday, confirming expectations that more policy adjustments will not occur until [···]

LONDON/MOSCOW, Nov 1 : OPEC+ oil-producing countries kept December production targets steady on Sunday, confirming expectations that more policy adjustments will not occur until next year, as the [···]

BAKU, Azerbaijan, November 1. Crude oil production at three Iranian oil fields involving Russia's ZN Vostok has exceeded the target by 7,000 barrels per day. According to Iran's Ministry of…

Unprecedented threat covering a shipowner's entire fleet...

The US has sanctioned Iraq's deputy oil minister, accusing him of mixing Iraqi and Iranian oil to help Tehran evade sanctions.

On October 22, the energy analysts at Kpler reported a number that the drive-by media refused to report. The volume of Iranian crude floating outside the blockade zone had fallen to zero, down from [···]

An oil tanker caught fire on Saturday afternoon after striking naval mines while navigating a restri

U.S. Secretary of State Marco Rubio made the statement amid a diplomatic push to prevent a resumption of the Iran war after the U.S. Midterms. Shortly after the statement, Tehran said an oil tanker [···]

We're making a freaking fortune,' Trump said.

Havoc from Iran war has pushed oil prices higher, probably for longer, and boosts longer-run prospects for the oil giants.

TEHRAN - The traditional skill of making Nan-e Roghan-Jushi, an oil-fried bread deeply rooted in the cultural and religious traditions of South Khorasan province, has been inscribed on Iran's [···]

BAKU, Azerbaijan, October 31. Exploration activities should be significantly expanded in various parts of Iran, including the Zagros region, the north, northwest and northeast of the country, and…

Iran says supertanker struck mine and caught fire in the Strait of Hormuz - Region - World

The war with Iran has been very lucrative for American oil companies, which have earned more than $130 billion in profit as people pay much higher prices for gasoline, diesel and other fuel. The [···]

The war with Iran has been very lucrative for American oil companies, which have earned more than $130 billion in profit as people pay much higher prices for gasoline, diesel and other fuel. The [···]

Oil companies are reporting another quarter of sky-high profits as the war in Iran pushes up the price of oil — and prices at the pump.

Iran's Islamic Revolutionary Guard Corps (IRGC) Navy said Friday that a fourth oil tanker had struck a mine and caught fire while attempting to pass through an unauthorized route in the Strait of H…

US oil companies are investing to squeeze out more fuel from refineries and bringing shuttered plants back online in response to conflicts in Russia and Iran that have crimped supplies. ExxonMobil [···]

UAE fuel prices drop in November amid rising global oil costs and Strait of Hormuz tensions. Stay updated on flight changes, oil spill clean-up, and regional developments.

Oil spills from tankers attacked by Iran in Hormuz reach UAE coastline, report says Oil spills from tankers attacked by Iran near the Strait of Hormuz have reached the UAE coastline, prompting beach [···]

Brent crude futures for December, which expired on Friday, settled up $2.76, or 2.4 percent, at $117.64 a barrel

Kathmandu. Oman has rescued 25 crew members from a commercial ship that caught fire after an attack on Friday. Meanwhile, Iran has stated that it has stopped three oil tankers attempting to cross [···]

Morning update Good Morning readers, If you are just joining us, here are key developments from across the region and beyond: *Iran's Islamic Revolutionary Guard Corps (IRGC) said that four oil [···]