Oil prices fell 4% after U.S. President Donald Trump said that negotiations with Iran were in the final stages, though investors remain wary about the outcome of peace talks as disruption to Middle Eastern supply continues
International Energy Agency (IEA) Executive Director Fatih Birol said commercial oil inventories are declining at a rapid pace, according to remarks made to reporters during the Group of Seven finance ministers’ meeting in Paris
Leading OPEC+ members plan to continue monthly oil quota hikes through September to complete the restoration of production cuts implemented in 2023
A survey found that crude output from the 12 members of the Organization of the Petroleum Exporting Countries fell by 830,000 barrels per day (bpd) in April from the previous month to 20.04 million bpd
The United Arab Emirates said it was quitting OPEC, dealing a blow to the oil producers’ group as an unprecedented energy crisis caused by the Iran war exposes discord among Gulf nations
BP said market conditions and oil price volatility driven by the war in Iran will affect its financial results for the first quarter of the year. The company expects an exceptional result in oil trading during the first three months of 2026
In its monthly oil market report, the IEA said production losses from the conflict that erupted on February 28 totaled more than 360 million barrels in March, a figure expected to rise to 440 million barrels in April
Argentina could reach oil production of 1 million barrels per day (bpd) in 2026, up from the current level of just over 850,000 bpd, driven by increased activity in the Vaca Muerta shale formation, Energy Secretary Daniel González said
The OPEC+ alliance agreed to increase oil production by 206,000 barrels per day, a largely symbolic move as the increase cannot be implemented while the war in Iran and the blockade of the Strait of Hormuz persist
OPEC oil production plunged in March to its lowest level since the height of the COVID-19 pandemic in June 2020, a Reuters survey showed, as the U.S.-Israeli war against Iran effectively shut the Strait of Hormuz and forced export cuts
