In a move that signals business-as-usual intent amid extraordinary disruption, OPEC+ delegates have outlined plans to press ahead with a series of oil production quota increases, aiming to fully unwind the final layer of voluntary cuts announced in 2023 by the end of September 2026. According to Bloomberg reporting, key members intend to raise targets […]
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In a notable development for global energy markets still reeling from disruptions in the Persian Gulf, a Japan-bound crude oil tanker has successfully transited the Strait of Hormuz. The vessel, identified as the Eneos Endeavor and owned by Japanese refiner Eneos, is the second Japan-bound tanker to clear the critical chokepoint since U.S. and Israeli […]
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The International Energy Agency (IEA) has delivered a stark warning: global oil demand is now on track to contract sharply in 2026 amid the ongoing Strait of Hormuz supply shock triggered by the Iran war. What began as a geopolitical disruption has morphed into a full-blown demand destruction event, with high prices, scarce supplies, and […]
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The Strait of Hormuz crisis, now in its third month, has evolved from a dramatic military flashpoint into a grinding economic and diplomatic stalemate. As of May 12, 2026, President Donald Trump has rejected Iran’s latest counterproposal as “totally unacceptable,” describing the broader ceasefire as on “life support.” The Islamic Revolutionary Guard Corps (IRGC) continues […]
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Australia’s own Treasury has run the numbers on a nightmare escalation of the Iran conflict — and the result is a doomsday scenario that would send global oil prices to $200 a barrel, throw the world economy into chaos, and expose just how fragile Australia’s energy position has become. In its annual budget papers released […]
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This means restoring normal supply-demand equilibrium, rebuilding severely depleted global inventories, repositioning tankers and supply chains, restarting/rebalancing production flows, ending demand rationing/destruction, and removing the geopolitical risk premium that has driven price volatility and tightness. Nasser emphasized that simply reopening shipping routes (like the Strait of Hormuz) is not the same as market normalization, due […]
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In a stark warning that underscores the fragility of the global oil market amid the ongoing disruption in the Strait of Hormuz, analysts at Morgan Stanley have declared the oil market is in a “race against time.” The investment bank’s commodity team, led by Martijn Rats, cautions that key market buffers — built up before […]
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In a sharp rebuke that underscores the Trump administration’s “maximum pressure” doctrine, President Donald Trump has rejected Iran’s latest peace proposal as “totally unacceptable,” signaling that backchannel talks remain deadlocked and energy markets could face renewed volatility. The rejection comes amid a fragile ceasefire that has held since early April 2026 but is now strained […]
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In a candid interview at the Milken Institute Global Conference, Chevron Chairman and CEO Mike Wirth delivered a sobering assessment of the global oil market: the industry’s traditional “shock absorbers” — commercial inventories in tanks, oil on tankers (including shadow fleet vessels), and strategic petroleum reserves — have been significantly drawn down in recent months […]
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Have you ever seen one of my favorite movies, Groundhog Day? I feel like that right now as we are trying to report on the global energy crisis, and daily it is the Strait is open, ….closed,,, open,,, closed, …. Dolphins, removing mines,,,, clear ,,, wow. Ok, and Jeff, yes, AI thought they were creating […]
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