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Oil slumps as OPEC+ surprises with bigger August hike, tariff uncertainties continue

- Alliance raises August output by 548,000 barrels per day, significantly above monthly hikes of 411,000 barrels approved for May through July, and April's 138,000-barrel rise

10:26 Oil

OPEC+'s 8 members to increase output by 548,000 bpd in August

- Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman to raise production as part of gradual rollback of earlier voluntary cuts, OPEC statement says

05.07.2025 Oil

Oil heading for weekly gain as markets weigh demand hopes and supply risks

- With OPEC+ supply decision due this weekend and US tariff deadline looming next week, market participants remain cautious

04.07.2025 Oil

US imposes new sanctions on Iran targeting oil trade, Hezbollah

- 'Treasury will continue to target Tehran’s revenue sources and intensify economic pressure,' says Treasury chief

04.07.2025 General

Oil prices dip on Iran-US diplomacy hopes, OPEC+ supply outlook

- Potential for renewed diplomacy between Tehran and Washington has eased fears of conflict in the Middle East and helped reduce oil supply concerns, contributing to decline in prices

04.07.2025 Oil

Oil transport costs drop as shipping traffic rises via Strait of Hormuz after Israel-Iran ceasefire

- Crude shipment rates from Middle East to China fall 44.5% as tensions ease following ceasefire between Israel and Iran on June 24

03.07.2025 General

Oil prices fall on surprise rise in US crude and gasoline stocks

- Investors wary as major producers expected to announce output hike

03.07.2025 Oil

US crude oil inventories up by 0.9% for week ending June 27

- Daily crude oil production fall to around 13.43 million barrels per day

03.07.2025 Oil

Oil prices edge lower as tariff uncertainty, inflation concerns weigh on market

- Signs of weak demand in US, world's largest oil consumer, are deepening market pressure

02.07.2025 Oil

Oil prices fall on OPEC+ output hike bets, US tariff concerns

- Market sentiment shifts as supply expectations rise and US trade tensions fuel demand concerns

01.07.2025 Oil

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Oil prices edge higher as weak dollar boosts demand

- Prices inch up from last week's steep decline with weak US dollar, expected to raise demand by making oil cheaper for those who use foreign currencies

30.06.2025 Oil

Tel Aviv-Tehran reconciliation set to drive oil prices toward $60 range: Experts

- Oil prices drop more than 12% following three-week rally, with experts projecting prices to stabilize around $60 range going forward

30.06.2025 Oil

Türkiye's oil imports up 2.2% in April

- Crude oil imports rise by 5% to 2.88 million tons in April, latest data shows

28.06.2025 Oil

US oil rig count down by 6 for week ending June 27

- Number of US oil rigs fall by 47 compared to one year ago

28.06.2025 Oil

Oil prices set for weekly drop as Israel-Iran supply fears ease

- Oil posts sharp drop as initial war-driven supply fears faded following a cease-fire between Israel and Iran, despite lingering regional tensions and strong US demand signals

27.06.2025 Oil