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Middle East tensions drive weekly oil rally despite OPEC+ output increase

Middle East tensions drive weekly oil rally despite OPEC+ output increase

- Investors continue to monitor Middle East developments as concerns over crude shipments through the Strait of Hormuz persist

10.07.2026 Oil

Oil prices mixed as OPEC+ approves August output increase

Oil prices mixed as OPEC+ approves August output increase

- OPEC+ agrees to increase August production target by 188,000 bpd

06.07.2026 Oil

Oil gains as traders weigh US-Iran negotiations against OPEC+ output plans

Oil gains as traders weigh US-Iran negotiations against OPEC+ output plans

- Signs of diplomatic progress between Washington and Tehran ease fears of major supply disruptions, although traders remain cautious ahead of the OPEC+ policy meeting

03.07.2026 Oil

Saudi Aramco helicopter crashes in Ras Tanura, killing 14 people

Saudi Aramco helicopter crashes in Ras Tanura, killing 14 people

- Probe underway to determine cause of crash, says source in Saudi Energy Ministry

28.06.2026 Oil

OPEC sees global energy demand rising 23% by 2050

OPEC sees global energy demand rising 23% by 2050

- Nearly three-quarters of future growth in electricity demand is expected to come from developing economies

18.06.2026 Oil Finance

OPEC+ output hikes fail to overcome Hormuz supply crisis

OPEC+ output hikes fail to overcome Hormuz supply crisis

- Production increases have little physical impact as supply remains constrained by Strait of Hormuz disruption and broader production limits, experts say

11.06.2026 Oil

Seven OPEC+ nations to increase oil output by 188,000 bpd in July

Seven OPEC+ nations to increase oil output by 188,000 bpd in July

- Seven country group is scheduled to meet again on July 5

07.06.2026 Oil

Saudi oil export revenues hit 3-year high in March amid Middle East war

Saudi oil export revenues hit 3-year high in March amid Middle East war

- Oil exports account for 80.3% of total merchandise exports, putting revenue at around $24.7B, as prices surged

21.05.2026 General

UAE minister says decision to leave OPEC and OPEC+ not politically motivated

UAE minister says decision to leave OPEC and OPEC+ not politically motivated

- UAE Energy Minister Suhail al-Mazrouei said the country’s decision to leave OPEC and OPEC+ was based on national interests

17.05.2026 Oil

OPEC crude production drops 1.7 million bpd in April

OPEC crude production drops 1.7 million bpd in April

- Saudi Arabia, Kuwait, Iraq and Iran see steepest production declines

13.05.2026 Oil

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Seven OPEC+ nations to increase oil output by 188,000 bpd in June

Seven OPEC+ nations to increase oil output by 188,000 bpd in June

- Seven country group is scheduled to meet again on June 7

03.05.2026 Oil

OPEC's share of global crude output ticks higher in 2025

OPEC's share of global crude output ticks higher in 2025

- Total world crude oil production rises by 2.24 million barrels per day in 2025 to average 74.85 million bpd

29.04.2026 Oil

UAE exit raises concerns over OPEC's market influence and internal balance

UAE exit raises concerns over OPEC's market influence and internal balance

- Decision ends 59-year membership, pointing to potential weakening of OPEC's influence in global oil markets

29.04.2026 Oil

UAE to withdraw from OPEC, OPEC+

UAE to withdraw from OPEC, OPEC+

- Withdrawn decision in line with UAE's long-term strategic, economic vision and development of its energy sector

28.04.2026 Oil

OPEC crude production drops 7.9 million bpd in March amid Middle East disruptions

OPEC crude production drops 7.9 million bpd in March amid Middle East disruptions

- Steepest production declines were recorded in Iraq, Saudi Arabia, UAE and Kuwait

13.04.2026 Oil

Saudi energy facilities, East-West pipeline recover after attacks, restore operational capacity

Saudi energy facilities, East-West pipeline recover after attacks, restore operational capacity

- Operations were halted at several facilities following recent wave of attacks

12.04.2026 Oil Energy Diplomacy

South Korean presidential aide to visit three nations to secure supplies of crude oil, naphtha

South Korean presidential aide to visit three nations to secure supplies of crude oil, naphtha

- Seoul’s top priority is securing stable supplies of essential necessities, says Kang Hoon-sik

07.04.2026 General

Saudi Arabia to cut April oil flows to China, India as war disrupts exports

Saudi Arabia to cut April oil flows to China, India as war disrupts exports

- Lower shipments reflect strain on Gulf routes and limited rerouting capacity via Red Sea

26.03.2026 General

Saudi Arabia reports missile, drone attacks on Red Sea port, key refinery

Saudi Arabia reports missile, drone attacks on Red Sea port, key refinery

- Defense Ministry says air defenses downed ballistic missile aimed at Yanbu port while drone struck SAMREF refinery

19.03.2026 Oil

Saudi Arabia intercepts 6 drones in Eastern Province: Defense Ministry

Saudi Arabia intercepts 6 drones in Eastern Province: Defense Ministry

- Province contains some of the kingdom’s largest oil fields and export terminals, making it a critical hub for global energy supplies

13.03.2026 General

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Saudi Arabia intercepts drone targeting Shaybah oilfield: Defense Ministry

Saudi Arabia intercepts drone targeting Shaybah oilfield: Defense Ministry

- Military says drone was destroyed in Rub' al Khali Desert before reaching major energy facility

12.03.2026 Oil

OPEC crude production up 164,000 barrels per day in February

OPEC crude production up 164,000 barrels per day in February

- Organization maintains its global oil demand growth forecast for 2026, marking increase of 1.38 million bpd

11.03.2026 Oil

Pakistan requests Saudi Arabia to continue fuel supply via alternate route after Strait of Hormuz closure

Pakistan requests Saudi Arabia to continue fuel supply via alternate route after Strait of Hormuz closure

- Federal Minister for Petroleum Ali Pervaiz Malik requested provision of oil through port of Yanbu on Red Sea during meeting with Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki, says Petroleum Ministry

05.03.2026 Oil Energy Diplomacy General

Saudi Arabia reports attempted attack on Ras Tanura oil refinery

Saudi Arabia reports attempted attack on Ras Tanura oil refinery

- Defense Ministry says no damage reported

04.03.2026 General

Drone fragments caused limited damage, fire at Ras Tanura oil refinery, Saudi Arabia says

Drone fragments caused limited damage, fire at Ras Tanura oil refinery, Saudi Arabia says

- Energy Ministry says fire quickly contained after interception of two drones; no injuries reported and oil supplies unaffected

02.03.2026 Oil

OPEC+ eight members to raise output by 206,000 bpd in April

OPEC+ eight members to raise output by 206,000 bpd in April

- Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman agree to resume oil production increases after first quarter pause

01.03.2026 Oil

Türkiye, Saudi Arabia to sign 2nd phase of 5-GW renewable energy deal at COP31

Türkiye, Saudi Arabia to sign 2nd phase of 5-GW renewable energy deal at COP31

- 'We are going to sign 3 gigawatts in renewable and storage by COP31,' Abunayyan tells Anadolu in an interview on the sidelines of the signing ceremony in Istanbul for Sivas and Taseli solar power plant projects

22.02.2026 Energy Projects

Türkiye, ACWA to sign power purchase and solar investment deals on Friday

Türkiye, ACWA to sign power purchase and solar investment deals on Friday

- Türkiye, Saudi Arabia intergovernmental agreement on renewable energy power plant projects covers total capacity of 5,000 MW

19.02.2026 Finance Solar Energy Diplomacy

OPEC crude oil production down 135,000 barrels per day in January

OPEC crude oil production down 135,000 barrels per day in January

- Organization maintains its global oil demand growth forecast for 2026, marking increase of 1.38 million bpd

11.02.2026 Oil

Türkiye signs $2B energy investment agreement with Saudi Arabia on solar energy projects

Türkiye signs $2B energy investment agreement with Saudi Arabia on solar energy projects

- Saudi companies to construct solar, wind power plants with capacity of 5,000 MW in Türkiye, with 2,000 MW solar power plant projects as 1st phase of investment, Türkiye's energy minister announces

04.02.2026 General

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