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Saudi Arabia Plans Massive Expansion of Oil Pipeline to Bypass Hormuz
Saudi Arabia plans to raise the capacity of its East-West onshore oil pipeline that helps it bypass ...
Fed’s Waller: Trump is a threat to Fed independence
Federal Reserve (Fed) Governor Christopher Waller said in the Bloomberg New Economy Forum 2026 discu...
IMF Warns Middle East War Could Derail Global Economic Growth
The energy crisis sparked by the war in the Middle East remains the biggest risk for the global econ...
Norway’s $2.3-Trillion Fund Opposes SEC Idea to Rescind Climate Reporting
The world’s biggest sovereign wealth fund, Norway’s $2.3-trillion Government Pension Fund Global, does not support the U.S. Securities and Exchange Commission’s (SEC) proposal to scrap requirements fo ...
US Oil Drillers Add Rigs
The total number of active drilling rigs for oil and gas in the United States stayed the same overall this week, according to new data that Baker Hughes published on Friday, with the total rig count i ...
Is Iran Preparing to Permanently Block the Strait of Hormuz?
Conflicting signals from Washington and Tehran keep oil markets on edge as Iran weighs a permanent Hormuz shipping ban while Trump insists a deal is within reach. Friday, August 07, 2026 The oil marke ...
ADNOC Reports 15 Vessel Attacks as Hormuz Risks Mount
Abu Dhabi National Oil Company said attacks on its vessels and employees are having a significant impact on operations as the company tries to keep crude, gas and refined products moving through the S ...
Libya Aims to Boost Oil Production to 2 Million Bpd by Early 2030s
Libya's National Oil Corporation (NOC) is confident the country could raise oil production to 2 million barrels per day (bpd) by early next decade from about 1.4 million bpd now, NOC chairman Masoud S ...
Saudi Arabia’s $5 Oil Detour Is Expensive—and Worth It
The latest Saudi oil route looks absurd on a map. Crude moves west across Saudi Arabia to Yanbu, north through the Red Sea to Egypt, across the SUMED pipeline from Ain Sokhna to Sidi Kerir, then west ...
ADNOC Buys 11 Supertankers for $1.3 Billion to Expand Export Fleet
ADNOC has bought 11 very large crude and gas carriers for $1.3 billion as the national oil company of Abu Dhabi continues to expand its fleet of supertankers to boost crude and LNG exports. ADNOC’s un ...
Ukraine Faces a Growing Air Defense Crisis as Patriot Supplies Dwindle
Ukraine's failure to intercept a single Russian missile during a large-scale overnight attack this week has raised fresh concerns over Kyiv's dwindling supply of air-defense interceptors as Moscow esc ...
Saudi Arabia, Pakistan and Turkey to Sign Defense Deal
Saudi Arabia, Pakistan, and Turkey are expected to sign on Friday a joint defense cooperation agreement amid the Middle East’s turmoil triggered by the war in Iran, Reuters reports, citing sources fam ...
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 dependen ...
Oil Prices Tumble as Traders Price In a Strait of Hormuz Breakthrough
September WTI crude oil futures are trading at $78.08 early Friday, down $8.72, or 10.05%, for the week. The market opened at $80.10, traded as high as $82.33, and fell to $74.24. With Friday’s sessio ...
Iran Is Playing for Time as Midterms Loom for Trump
Iran and Oman appear close to an agreement on reopening the Strait of Hormuz, but the remaining issues are substantial. Tehran would control inbound traffic while Oman would oversee outbound shipping, ...