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petroleum

OPEC+ hikes oil production quotas but stays mum on UAE pull-out

OPEC+ hikes oil production quotas but stays mum on UAE pull-out

Saudi Arabia, Russia and five other OPEC+ countries increased their oil production quota on Sunday in an expected move aimed at demonstrating continuity at the cartel after the shock withdrawal of the United Arab Emirates. The seven major producers will add 188,000 barrels per day to their total production

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

ExxonMobil CEO sees chance of higher oil prices as earnings dip

ExxonMobil CEO sees chance of higher oil prices as earnings dip

US oil giants reported lower earnings Friday with accounting effects muting the benefits of the Middle East oil shock, as ExxonMobil's CEO cautioned that crude prices could still increase. Oil prices jumped during the quarter from the mid-$60s in early February to more than $100 a barrel

Gas hits $6 a gallon in California; Southwest see increases

(The Center Square) - California Thursday officially exceeded an average gas price of $6 a gallon for the first time since the start of the U.S.-Israel conflict with Iran. The new high came just one week after a short-lived drop in the cost of a gallon, according to

Trump approves Phillips County border pipeline permit

Trump approves Phillips County border pipeline permit

Phillips County, Mont. — A presidential memorandum dated April 30, 2026, says President Donald Trump approves a permit allowing Bridger Pipeline Expansion LLC to build and operate pipeline facilities at the U.S.-Canada border in Phillips County. According to the document, the approval covers a 36-inch pipeline segment on

Nigerian airlines avert shutdown as Mideast war hikes fuel prices

Nigerian airlines avert shutdown as Mideast war hikes fuel prices

Nigerian airlines continued flying on Thursday despite threatening a shutdown over sky-high jet fuel prices roiling the industry in Africa's top crude producer and most populous nation. It is the second time a strike has been averted in as many weeks. Government talks with airlines have already

War in the Middle East: latest developments

War in the Middle East: latest developments

The latest developments in the Middle East war: - Oil at four-year high - Oil prices soared to four-year highs with US benchmark Brent for June delivery, spiking more than seven percent to $126.41, while West Texas Intermediate was up 3.4 percent to $110.31. - 42nd vessel redirected