OPEC+ to raise output quota by 188,000 bpd – but hike seen as mostly symbolic
May 21, 2026
OPEC+ leaders agreed to raise their collective output target for July by 188,000 barrels per day – the third consecutive monthly
Crude Oil
OEUK calls emergency summit as Iran war reignites UK energy security debate
May 21, 2026
Offshore Energies UK has urged ministers to prioritise domestic energy production, including North Sea oil and gas alongside renewables, warning that
International Energy Agency warns oil inventories are depleting fast
May 19, 2026
IEA executive director Fatih Birol says commercial oil inventories are “depleting quickly” due to the supply shock from the Iran war.
Oil markets rally on combative rhetoric as Hormuz remains tense
May 15, 2026
Brent crude futures climbed by 2.4% to $108.22 per barrel after US President Donald Trump said he was running out of
UAE fast‑tracks pipeline to bypass Hormuz and double exports
May 15, 2026
Abu Dhabi’s crown prince ordered state company ADNOC to accelerate construction of a West-East pipeline, doubling the UAE’s oil export capacity
OPEC trims 2026 oil demand growth but expects a rebound in 2027
May 13, 2026
OPEC’s latest monthly report has cut the forecast for 2026 global oil demand growth from 1.38 million barrels per day to
IEA warns of the largest‑ever oil supply shock; global deficit looms
May 13, 2026
The International Energy Agency’s May oil market report warns that the Middle East war has shut in more than 14 million
Central banks hold rates but signal concern over energy-driven inflation
May 1, 2026
The European Central Bank and Bank of England have decided to hold interest rates, despite bearish economic sentiment. Both banks signal
UK economy faces slowdown as energy prices drive inflation
May 1, 2026
Rising energy costs are expected to slow UK economic growth, with inflation pressures linked to global energy markets. This highlights the
Oil surges above $120 as Middle East tensions escalate
May 1, 2026
Brent crude has briefly exceeded $120 per barrel, driven by fears of supply disruption in key transit routes. Markets are pricing
Recent News
Clean hydrogen investment passes $130 billion, but demand remains uncertain
September 11, 2026
The North Sea: Beyond oil and gas
September 10, 2026
