Energy, Oil & Gas

IEA lowers 2026 oil supply, demand forecasts amid Gulf disruptions

Renewed Gulf export disruptions have derailed the global oil market recovery, prompting the International Energy Agency (IEA) to cut its 2026 supply and demand forecasts. Global oil demand is now expected to decline by 1.6 million barrels per day as the Strait of Hormuz remains closed....

Energy, Oil & Gas

Oil prices plunge as Iran talks revive hopes, Opec+ boosts supply

Oil prices fell sharply on Monday after US President Donald Trump suspended plans for military strikes against Iran and announced that negotiations with Tehran would resume, raising hopes of reducing the risk of disruptions to global crude supplies....

Energy, Oil & Gas

Iraq moves to export oil via Syria as Gulf routes disrupted

Iraq is preparing to expand crude oil and naphtha exports through Syrian ports as it moves to diversify trade routes after the Iran war disrupted its main Gulf shipping channels and effectively closed the Strait of Hormuz....

Energy, Oil & Gas

Gulf oil output can rebound quickly after Hormuz reopens: Goldman Sachs

Oil production across the Gulf, sharply curtailed by the Iran conflict, is expected to stage a strong recovery within months once the Strait of Hormuz fully reopens, according to Goldman Sachs, offering a measure of optimism for regional energy markets....

Energy, Oil & Gas

GCC countries boost global position in energy sector, says report

The Gulf countries continue to consolidate their position as one of the most influential hubs in global energy markets, (with 32.7% of global oil reserves and 21.2% gas reserves) supported by a broad base of natural resources, advanced infrastructure and accumulated expertise, said a report....

Energy, Oil & Gas

Gulf region primed to unlock massive green energy gains: EU Commission

Ditte Jørgensen, EU energy director-general, said at the World Future Energy Summit that expanded EU funding, a strong legal framework and growing opportunities for collaboration with GCC countries make an ambitious trade and investment framework essential for both....