OPEC
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OPEC Lowers 2026 Oil Demand Growth Forecast Again as Supply Risks Mount
OPEC lowers its 2026 oil demand growth forecast again as Red Sea supply disruptions mount and Iran deal talks show no progress, keeping markets caught between opposing forces.
Turkey and Iraq Sign One-Year Oil Pipeline Deal
Turkey and Iraq have signed a one-year agreement to resume operations on the Iraq-Turkey Pipeline, reopening a crude export route through Ceyhan that has been shuttered since 2023.
OPEC Cuts 2026 Oil Demand Growth Forecast Again
OPEC again lowered its 2026 global oil demand growth forecast, a bearish demand signal landing just as conflict around the Strait of Hormuz drives supply-side anxiety higher.
Iraqi PM to Visit Washington Monday, Oil and Gas Deals on Agenda
Iraq's prime minister heads to Washington Monday to sign oil and gas memorandums of understanding with U.S. companies, as Iran's strikes on Gulf states reshape regional energy markets.
UAE Oil Production Hits Record High After OPEC Exit
Abu Dhabi posted an all-time crude output record last month, defying Iranian Strait of Hormuz threats and signaling a new era of Gulf energy independence from OPEC discipline.
Iran Oil Backs Up at Sea as Chinese Refiners Shift to Gulf Rivals
Iran's sanctioned crude is piling up at sea as China's independent refiners pivot to rival Gulf suppliers, traders say, squeezing Tehran's oil revenues.
China Delays 500,000 Bpd of Refining as Hormuz Disruption Deepens
Chinese refiners have pushed back roughly 500,000 barrels per day of new processing capacity as Strait of Hormuz disruptions from the Iran-Israel war squeeze crude supply.
Oil Spikes, Futures Slide as Iran Missile Barrage Tests Ceasefire
Crude jumped and U.S. stock futures fell Sunday night after Iran fired missiles at Israel, even as OPEC+ approved a 188,000 bpd July supply boost.
Iraq Plans to Triple Pipeline Exports as Hormuz Stays Shut
Iraq approves tripling crude oil exports through the Kurdistan-to-Ceyhan pipeline within three months as the Hormuz closure cuts OPEC's second-largest producer off from its primary export route.
Iran's Floating Oil Stockpile Jumps 65% as US Blockade Bites
Iranian crude stored on tankers in and around the Strait of Hormuz has jumped 65 percent since the US naval blockade began mid-April, FT shipping data shows, as Tehran searches for ways to circumvent the choke.
IEA: Global Oil Inventories Draining at Record Pace
Global oil stocks fell 117 million barrels in April alone as the Hormuz blockade cuts 14 mb/d of supply, the IEA says, with Brent holding near $106/bbl.
OPEC+ Adds 188,000 bpd for June in First Meeting Without UAE
Seven OPEC+ producers led by Saudi Arabia and Russia agreed Sunday to raise June output by 188,000 barrels per day, the cartel's first quota call since the UAE's May 1 exit.
Brent crosses $126 intraday as Trump rejects Iran's Hormuz proposal
Brent briefly traded above $126 Thursday before settling near $120 after the president rejected Tehran's offer to lift the Hormuz blockade in exchange for delayed nuclear talks.
UAE Quits OPEC on May 1, Stripping Cartel of No. 3 Producer
The UAE announced its exit from OPEC effective May 1, removing the cartel's third-largest producer as Brent crude trades above $114 amid a closed Strait of Hormuz.
Why Saudi Arabia's diplomatic posture is the most-watched indicator of all
Riyadh sits at the center of every Iran scenario. Its public statements, oil decisions, and back-channel signals matter more than any single American or Israeli statement. Here's how to read what Saudi Arabia is actually doing.
What is OPEC and how does it actually work?
OPEC sets oil prices for the entire world — except when it doesn't. The cartel's actual mechanics, why members cheat, and how OPEC+ and Saudi Arabia changed the picture in 2016.