Topic
global-oil-supply
13 stories related to this topic, newest first.
The Independentpolitics37 days agoUpdated
Iran's Foreign Minister Says Lack of Trust Hinders US Nuclear Talks
Iran's top diplomat said Friday that contradictory messages from Washington have created doubt about U.S. intentions, stalling negotiations to end the conflict. President Trump dismissed Iran's latest proposal as "garbage" while demanding removal of highly enriched uranium.
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The Guardianworld40 days ago
Iraq and Pakistan Sign Energy Deals With Iran
Iraq and Pakistan have signed agreements with Iran to ship oil and liquefied gas through the Strait of Hormuz amid ongoing Iranian threats to commercial shipping. The deals come as the waterway stays effectively shut to most traffic, disrupting one-fifth of global oil supplies an…
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marketwatch.compolitics40 days ago
ExxonMobil, Shell and Repsol Among Bidders for $163 Million in Alaska Oil Leases
Major oil companies placed record bids in March 2026 for leases in the National Petroleum Reserve of Alaska, which holds nearly 9 million barrels of oil. The activity marks the return of Exxon and Shell after a nearly decade-long hiatus, following Trump administration deregulatio…
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nypost.compolitics41 days ago
Trump Says Iran Cease-Fire Is on Life Support as Tehran Issues New Demands
President Trump described a cease-fire with Iran as having only a 1 percent chance of survival and called a truce plan "garbage." Iran delivered a counterproposal demanding war reparations, recognition of sovereignty over the Strait of Hormuz and the lifting of sanctions. India's…
The Independentpolitics43 days ago
Bangladesh Faces Fuel Disruptions and Higher Costs Amid Iran Conflict
Energy disruptions linked to the conflict have cut incomes for ride-share drivers and raised costs for garment factories in the import-dependent nation. The World Bank and Asian Development Bank have lowered growth forecasts as Bangladesh imposes austerity measures and seeks emer…
rediff.comworld43 days ago
Iran Proposes Permits and Local Management for Undersea Cables in Its Waters in the Strait of Hormuz
Iran is weighing a policy to require foreign operators to obtain permits, pay fees and follow Iranian law while shifting management of the cables to Iranian companies. The move comes as the Strait of Hormuz remains closed to most shipping after months of attacks, trapping 20 perc…
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bbc.co.ukworld45 days ago
Tanzania Raises Fuel Prices in Dar es Salaam, Introduces Targeted Diesel Subsidy
The government introduced a subsidy of 259/- per litre on diesel effective May 6, 2026, as EWURA set new retail prices at 4,115/- for petrol and 4,248/- for diesel in Dar es Salaam. The increases stem from a February 2026 conflict involving the United States, Israel and Iran that…
38north.orgworld47 days agoUpdated
South Korea's Consumer Prices Increase 2.6% in April Amid Rising Fuel Costs
South Korea's consumer inflation accelerated to 2.6% year-over-year in April, matching estimates and marking the fastest pace since July 2024. The rise was primarily driven by a 21.9% surge in petroleum product prices, attributed to global oil supply disruptions from the closure…
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azernews.azfinance49 days ago
OPEC+ Agrees to Increase Oil Output by 188,000 Barrels Per Day in June
OPEC+ announced an increase in oil production by 188,000 barrels per day for June in its first meeting without the United Arab Emirates. The group, now consisting of seven major producers, adjusted output amid ongoing disruptions from the Iran war. The UAE, the cartel's third-lar…
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swissinfo.chfinance52 days agoUpdated
US Treasury Secretary Meets Chinese Vice Premier
The U.S. Treasury Secretary held talks with China's Vice Premier on the upcoming presidential trip to Beijing. The discussions occurred against the backdrop of a U.S. blockade on Iranian shipping, which has closed the Strait of Hormuz and disrupted global oil supplies.
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Bloombergworld4 days ago
Jones Act Waiver Enables Phillips 66 Crude Shipment from Texas to East Coast Refinery
Phillips 66 has transported Texas crude to an East Coast refiner, marking the first such shipment since President Trump issued a Jones Act waiver on March 18, 2026. The waiver permits foreign vessels to carry oil between U.S. ports amid supply disruptions from Iran's blockade of…
Substrate placeholder — needs reviewfinance74 days ago
Oil Prices Decline Following U.S.-Iran Cease-Fire Announcement Amid Ongoing Regional Tensions
Oil prices fell sharply after President Trump announced a cease-fire with Iran on Tuesday evening. Energy producers in the Persian Gulf remain cautious due to continued attacks and risks in the Strait of Hormuz. Restarting oil production is expected to take months, with at least…
Substrate placeholder — needs reviewfinance75 days ago
US EIA Estimates Middle East Oil Production Cuts to Reach 9.1 Million Barrels per Day in April Due to Strait of Hormuz Closure
The US Energy Information Administration has estimated that oil production cuts in the Middle East will increase to 9.1 million barrels per day in April due to the closure of the Strait of Hormuz. This projection reflects disruptions in a key global oil transit route. The estimat…
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