Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
OPEC+ boosts oil production after attacks on Iran and throughout region
Getting your Trinity Audio player ready... NEW YORK — Eight countries that are part of the OPEC+ oil cartel announced Sunday they will boost production of crude as U.S. and Israeli forces launched a major attack on Iran and the country…
Beyond Oil: The Strait Of Hormuz And The Global Food Risk
ANKARA, TURKIYE - JUNE 17: An infographic titled 'Strait of Hormuz' created in Ankara, Turkiye on June 17, 2025. Connects oil and LNG production in the Middle East to global markets via the Arabian Sea and the Indian Ocean. (Photo by Murat…
OPEC+ boosts oil production after attacks on Iran and throughout region
NEW YORK (AP) — Eight countries that are part of the OPEC+ oil cartel announced Sunday they will boost production of crude as U.S. and Israeli forces launched a major attack on Iran and the country responded with retaliatory strikes against…
What's at Stake for Oil Markets as Trump Strikes Iran
(Bloomberg) -- President Donald Trump's decision to strike Iran creates new risks for a significant chunk of the world's oil supply. The Islamic Republic itself pumps more than 3 million barrels a day, or 3% of global output, making it the…
Tanker hit by Iran as shipping suspended threatening oil price surge
A tanker dramatically burst into flames after being hit by an Iranian strike today - as shipping was halted in the Strait of Hormuz and markets were braced for a surge in global oil prices. The threat of Iranian reprisal attacks saw at least 150…
What the US-Israeli strikes on Iran mean for the price of oil
A halt on trade flows through the strait of Hormuz could spell trouble for many developed economies The US-Israeli war on Iran has ignited fears that escalating military aggression in the Middle East could send oil prices soaring, push up prices at…
$100 oil? Prolonged Hormuz closure could spark a 1970s-style energy shock
Analysts warn that a prolonged Strait of Hormuz disruption could push oil prices into triple digits. Markets are likely to price in an immediate-risk premium, analysts say. The duration of the conflict would determine the severity of any spike…
Iran Strikes Will Be Nasty for Oil Prices, But Not a Shock
One can look at oil and the Middle East through two lenses. Magnify every detail from the attacks on Iran and its responses and a chaotic picture emerges. When the market reopens on Sunday night, oil prices are likely to jump 10%-15% as a result.
Oil Market's 'Worst Fears' Are Here as Gulf Conflict Hits Hormuz
The oil market's nightmare scenario came true this weekend. Now the race is on to deal with it. After tanker traffic through the Strait of Hormuz chokepoint largely came to a halt, the crucial question now is what it will take for the growing…
Tanker hit off Iran amid fears of oil price spike
A ship has been struck by an 'unknown projectile' off the Iranian coast, the UK Maritime Trade Organisation has said, amid fears strikes in the Middle East could drive up global oil prices. The British agency that oversees trade routes said a…
Iran disrupts vital oil route. Price rises coming
A map of shipping through the Strait of Hormuz off Iran shows a sharp drop in the number of vessels using the route that carries a fifth of the world's oil and gas supplies as Iran's Revolutionary Guards responded to U.S. and Israeli attacks with…
What a US attack on Iran could mean for oil prices, in charts and maps
The United States and Israel's strikes on Iran are expected to spark volatility in the oil market, with experts warning that oil prices could surge when futures trading opens Sunday at 6 p.m. ET.
Is the Strait of Hormuz closed? Everything to know about the vital oil shipping lane
The reported sinking of several Iranian warships by US missiles in the Gulf of Oman serves as a reminder of the maritime aspect of the conflict which began February 28 with a barrage of Israeli and American missiles targeting Iran. Two other…
Prediction markets indicate oil pop Monday, 20% rise this month
Betting on prediction markets indicates a strong rally in oil prices this month following attacks on Iran by the U.S. and Israel. Polymarket has a 93% chance of WTI crude (CL1:COM) (USO) moving higher on Monday, unsurprisingly, and a…
OPEC+ Agrees to Boost Oil Production
The Organization of the Petroleum Exporting Countries and its allies have agreed to a larger-than-expected increase in oil production next month in the wake of the U.S. and Israeli strikes on Iran. The Saudi Arabia-led cartel's move will likely be…
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