The global oil market is heading towards a historic oversupply in 2026, driven by aggressive production increases from the Saudi-led Opec+ bloc, as worldwide demand falters. The International Energy Agency
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A critical oil refinery responsible for 10% of Britain’s fuel supply stands on the brink of closure, threatening significant disruption to national fuel distribution. The Lindsey Oil Refinery in Lincolnshire,
Oil prices have witnessed a significant decline following growing confidence in the Iran-Israel ceasefire, dispelling earlier concerns about potential supply disruptions. Brent crude, the global benchmark, dropped 5.9 per cent
The artificial intelligence sector’s rapid expansion and the declining gas sales in Russia are contributing to the formation of a supply glut. The Russian government is now considering investing in
Global oil markets face significant volatility as Iran’s parliamentary vote to close the Strait of Hormuz threatens to disrupt one of the world’s most crucial oil transport routes. Market analysts
Renowned for being one of the most recent exploration hotspots globally, Namibia is contemplating offering additional incentives and financing alternatives to international majors preparing plans for offshore oil production in
Oil prices have witnessed a substantial 10 per cent increase over the past week amid growing tensions between Israel and Iran, prompting warnings from the UK’s Chancellor Rachel Reeves about
In a remarkable transformation, Mark Carney, once heralded as the Bank of England’s greenest-ever governor, has executed a striking policy reversal. The former central banker who adamantly advocated leaving 80%
Saudi Aramco has announced a significant decline in dividends for 2025, marking almost a 30 per cent reduction from the $124 billion distributed last year to a total of $85.4
British energy giant BP has entered into a significant agreement with the Iraqi government to redevelop four substantial oil and gasfields in the northern region of Kirkuk. The landmark deal,
Moscow’s ability to maintain its oil trade and finance its Ukrainian war efforts, despite international sanctions, hinges on a fleet of over 600 elderly and poorly maintained vessels. This ‘shadow
Oil prices surged to their highest levels since August as refiners in India and China desperately sought alternative supplies following stringent new US sanctions targeting Russian oil revenues. Brent crude,
