The Organization of the Petroleum Exporting Countries cut its oil demand estimates for this year as the U.S. blockade on Iran ...

Reuters argues that reopening the Strait of Hormuz after the Iran war could create a new problem for OPEC: once Gulf ...

Iran’s crude oil production slumped by 19% last month, according to data from OPEC, while the US blockaded the country’s ...

OPEC oil output ‌in May hit its lowest in more than two decades, a Reuters survey found, as a U.S. naval blockade cut Iran's ...

OPEC is sticking to its view that the oil market will remain relatively tight through next year, with demand growth expected ...

OPEC plans to hike production by 200,000 barrels per day despite the Strait of Hormuz remaining closed, making it ...

OPEC on Thursday lowered its forecast for world oil demand growth in 2026 to 970,000 barrels per day, the producer group said ...

Nigeria recorded an upswing in the total volume of oil produced in May 2026, averaging 1,530,354 barrels of crude oil and ...

Global demand is facing constraints because supply from the Persian Gulf has been effectively cut off by Iran's blockade of the Strait of the Hormuz.

The Arab oil producer has long expressed frustration with the quotas it has to follow as part of OPEC, the cartel of major state-owned oil producers.

The move is widely seen as symbolic as the war in the Middle East has choked off a critical waterway through which a fifth of ...

The cartel’s move to increase output by 188,000 barrels per day is largely symbolic, with vast amounts of the world’s oil ...