On May 1, the United Arab Emirates will end its a 59-year membership in the oil consortium, allowing it to raise output during one of the most volatile energy m

President Donald Trump posted on Truth Social Tuesday that Iran had "informed" his administration it was in a "state of collapse" and urgently wanted the Strait

Brent surges above $110 as fears grow that the U.S.-Iran war could drag into a prolonged conflict, while the UAE’s shock OPEC exit raises questions over a broad

The European Union would prefer Southeast Asian countries to diversify their oil supply by buying oil from producers other than Russia, the EU’s foreign policy

Trump's blockade is having a predictable effect on Iran's economy and oil industry, with reports that the regime is scrambling to repurpose old and rusty tanker

China’s top refiner posted a strong first quarter as higher crude prices lifted inventory values and stable domestic fuel sales helped to offset pressure from d

Germany is hunting for solutions to reroute crude oil supplies to the PCK Schwedt refinery after Russia said it would halt Kazakh oil deliveries through the Dru

The government’s borrowing costs have risen to their joint highest level since the 2008 financial crisis, after a sharp jump in the oil price prompted a sell-of

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.79 million barrels in the week ending April 24. In th

Bitcoin price downside returned to send BTC to one-week lows thanks to renewed concerns over global oil supplies focused on the Strait of Hormuz blockade.

U.S. crude oil surpassed $100 per barrel for the first time since April 10 after Iran talks stumbled and the United Arab Emirates said it would leave OPEC.

The United Arab Emirates said it would leave the Organization of the Petroleum Exporting Countries after being a part of the group that coordinates oil output a

Move underlines long-running frustrations with group over production quotas

Liquefied natural gas transit has been effectively halted. A ship managed by Abu Dhabi’s state oil company managed to cross, said Kpler, a maritime data firm.

The group of oil-producing countries supplied more than 25 percent of the world’s oil before the war in Iran. Its members have influenced energy markets through

The measures aim to crack down on Iran’s shadow banking system and Chinese purchases of Iranian oil.

The energy giant said it had seen an "exceptional" performance at its oil trading business.

It will have little effect on the current oil blockades, but it could change everything afterwards.

The UAE's decision, after nearly 60 years of membership, is seen as a potential death knell for the oil cartel.

Oil prices rose as investors parsed fresh signals from U.S.-Iran negotiations, with uncertainty over a potential de-escalation keeping markets on edge.