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Higher oil prices have largely offset lower export volumes, lifting revenue above prewar estimates, but spending is set to rise faster. Saudi Arabia expects wider budget deficits for several years as it ramps up spending to support growth in the face of regional conflict. Higher oil prices have largely offset lower exp
Drone attacks that shut Saudi Arabia’s bypass pipeline earlier this month redirected more crude through the Strait of Hormuz, tightening the already stretched tanker fleet and sending oil-shipping rates higher, according to a WSJ newsletter via TradingView News.
Houthi fighters advanced in Yemen on Monday, aiming to cut off the Red Sea coast, amid a report that U.S. President Donald Trump had called off airstrikes against the group at the last minute. The Iran-backed group's advance threatens global energy supplies.
Iraq will begin discussions with a consortium including ConocoPhillips Co. (NYSE: COP ) on the exploration and development of the Akkas field and its surrounding areas, the country’s cabinet said. The cabinet authorized on Saturday the country’s Ministry of Oil to sign the contract with the consortium. Akkas, near the
Three oil tankers are bypassing and returning to the Persian Gulf through the Southern Corridor while passing through the Strait of Hormuz