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News
Saudi oil production just plunged to its lowest level since 1990
2+ day, 11+ hour ago (306+ words) ALBAWABA- Saudi Arabia’s oil production has plunged to its lowest level of the year as Houthi attacks, threats to Saudi shipping and the wider U.S.-Iran war increasingly disrupt the kingdom’s ability to move crude to international markets, adding fresh…...
Oil Tanker Rates Hit Record Highs as Middle East Shipping Risks Soar
3+ day, 54+ min ago (373+ words) Oil tanker rates have jumped to record highs as escalating risks to shipping in and out of the Middle East are prompting traders and tanker operators to undertake inefficient and more expensive trade routes. While the crude oil supply is…...
Basra heavy and medium crudes surge over 10% weekly despite late dip
1+ week, 21+ hour ago (146+ words) Basra (IraqiNews.com) — Iraq’s flagship export grades, Basra Heavy and Basra Medium, logged substantial double-digit weekly gains, even as both contracts retreated by 80 cents per barrel in their final trading sessions alongside wider pullbacks across international crude benchmarks. The weekly…...
Bazan puts $5 billion price tag on leaving Haifa Bay
1+ week, 4+ day ago (402+ words) The oil refining group is seeking compensation based on valuations of up to $3.8 billion, plus hundreds of millions of dollars tied to expected refining margins and additional costs. The government, which wants the complex evacuated by the end of the…...
US extends its influence to the world’s largest oil reserves | US extends its influence to the world’s largest oil reserves
1+ week, 6+ day ago (101+ words) US extends its influence to the world’s largest oil reserves | News... LBCI Lebanon Introduction to the news bulletin August downpours. Is summer over, or is more unpredictable weather on the way? Happiness is a choice. Wedding stories under the rain…...
Kuwait to build 4th petrochemicals plant
2+ week, 5+ day ago (238+ words) Plans for the fourth olefins project in Kuwait are progressing following confirmation of the availability of the necessary feedstock gas and the completion of a market and product feasibility study. This paves the way for the project's implementation in the…...
Iraq aims to more than double oil output to 10 million barrels a day
3+ week, 1+ day ago (326+ words) Iraq looks to bolster its energy investment throughout the nation Baghdad – Iraq’s prime minister said Friday that he wants to increase the country’s oil production to as much as 10 million barrels a day within six years. Crude oil sales account…...
Saudi, Kuwait crude output rebounds from post-March lows
3+ week, 2+ day ago (65+ words) Quantum Commodity Intelligence Saudi, Kuwait crude output rebounds from post-March lows Quantum Commodity Intelligence is a premium paid subscription service for professionals in the oil, biofuels, carbon, ammonia and hydrogen markets. - Quantum Oil Daily - market report sent to your email…...
US becomes T??rkiye???s largest oil supplier after Russia in June 2026
4+ week, 1+ day ago (566+ words) The United States became Türkiye’s second-largest supplier of crude oil and petroleum products in June, as U.S. shipments nearly quadrupled from a year earlier while Russian deliveries nearly halved but remained the largest source, according to official data. U....
Kuwait???s Oil Sector Hit by Prolonged Strait of Hormuz Closure
4+ week, 1+ day ago (466+ words) Kuwait’s oil industry has been severely disrupted by the war between the United States and Iran, with the closure and disruption of the Strait of Hormuz sharply reducing the country’s ability to export crude and putting its economy under growing…...