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Pol-Malo LE BRIS AFP

OPEC+ to make first post-UAE production decision

OPEC+ to make first post-UAE production decision

Seven OPEC+ members are meeting Sunday to make their first decision on oil-production quotas since the United Arab Emirates' departure from the cartel, which added to the soaring price pressure unleashed by the Mideast war. The UAE, one of the world's top producers, announced April 28

Oil crisis: Is world better placed than in 1973?

Oil crisis: Is world better placed than in 1973?

Ten days after the first American and Israeli strikes against Iran, oil prices have cooled slightly after soaring above $100 a barrel. Even if they risk rocketing once more because of ongoing military action, the situation remains very different compared with the oil shock of 1973. AFP looks at why:

Mideast war traps 20,000 seafarers, 15,000 cruise passengers in Gulf

Mideast war traps 20,000 seafarers, 15,000 cruise passengers in Gulf

Around 20,000 seafarers and 15,000 cruise ship passengers are stuck in the Gulf because of the Middle East war, the UN's International Maritime Organization told AFP on Thursday. The shipping regulator's secretary general Arsenio Dominguez said that the "IMO is ready to work

Mideast war threatens to spark world energy crisis

Mideast war threatens to spark world energy crisis

Asia and Europe's oil reserves can soften the immediate impact of the Middle East war sparked by US and Israeli strikes on Iran, but a prolonged conflict could trigger major disruptions and sharp price increases, analysts warn. Here are facts and expert views on some of the possible

OPEC+ hikes oil production by more than expected following outbreak of Iran war

OPEC+ hikes oil production by more than expected following outbreak of Iran war

Key members of the OPEC+ oil cartel announced a greater-than-expected increase to production quotas on Sunday following US and Israeli strikes on Iran that triggered retaliation by Tehran across the Middle East. The eight-strong V8 (Voluntary Eight) group in the alliance, which includes top oil producers Saudi

OPEC+ mulls oil production increase in shadow of war

OPEC+ mulls oil production increase in shadow of war

As a fresh Middle East conflict risks sending oil prices sharply higher, Saudi Arabia, Russia and six other key members of the OPEC+ alliance are widely expected to announce an output increase Sunday, analysts say. The virtual meeting by the eight members of the Organization of the Petroleum Exporting Countries

Copper, a coveted metal boosting miners

Copper, a coveted metal boosting miners

BHP, Glencore and Teck Resources -- three mining giants whose annual results have revealed significantly increased profits thanks in large part to soaring copper prices. AFP explores the reasons behind the gains. - Profits boost - Australian resources group BHP saw net profit surge almost 28 percent to US$5.64 billion in