News

May 5, 2026

India Condemns Iran Attack on Fujairah as Oil Prices Surge

India has called for an end to the hostilities in the Middle East, condemning Iran for its recent attack on the port of Fujairah – a […]
May 5, 2026

Chevron CEO Warns of Emerging Physical Shortages in Crude Oil

Signs of physical shortages in crude oil are emerging, the chief executive of Chevron warned this week, noting that this will first hit Asian economic growth. […]
May 5, 2026

UAE Withdraws From OAPEC

The United Arab Emirates (UAE) has officially withdrawn from the Organization of Arab Petroleum Exporting Countries (OAPEC), following the country’s landmark decision to exit OPEC and […]
May 5, 2026

China Orders Refiners to Ignore U.S. Sanctions on Key Iranian Oil Buyers

In a major escalation of trade tensions between Washington and Beijing, China’s Ministry of Commerce (MOFCOM) has formally invoked its 2021 Blocking Rules for the first […]
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