Stocks
China Boosts Middle East Oil Buys as Saudi Slashes Prices
China has increased oil purchases from the Middle East, driven by deep discounts from Saudi Arabia, which are expected to further boost...
#oil market 10 articles
World Business
OPEC+ Boosts Output, Cartel’s Future Uncertain After UAE Exit
A handful of OPEC+ nations will raise oil output from August. However, the cartel is fighting for survival following the UAE's departure,...
Stocks
Chevron Exec: No Quick Fix for Gas Prices Despite Trump’s Protests
A Chevron executive states there is no immediate solution to lowering U.S. gasoline prices at the pump, despite former President Trump's protests....
World Business
US Eases Iran Oil Sanctions Amidst Nuclear Inspection Dispute
The US has temporarily waived sanctions, allowing Iran to sell oil in US dollars for the first time in decades, following talks...
World Business
UAE Quits OPEC, Citing National Interest
The United Arab Emirates will exit OPEC and OPEC+ on May 1, a move it says is to focus on national interest,...
Stocks
Hormuz Closure Threatens Brent at $150 by Summer, Morgan Stanley Warns
Morgan Stanley strategists warn that a prolonged Strait of Hormuz closure into June could push Brent crude prices to $150 per barrel...
Markets
Chevron CEO Warns Physical Oil Shortages Are Starting: CVX Stock Implications
Chevron CEO Mike Wirth warns that physical oil shortages are beginning due to the Strait of Hormuz closure, impacting global economies and...
World Business
UAE Exits OPEC: What it Means for Oil Markets
The United Arab Emirates is leaving OPEC after six decades, a move that could significantly impact global oil production and prices. The...
World Business
UAE’s Opec Exit: A Seismic Shift Beyond Current Blockades
The UAE's departure from Opec, a group it helped found, signals a strategic pivot. While immediate oil market impacts are minimal, the...