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qz
OPEC slashes its oil demand forecast as Hormuz blockade hammers output

OPEC production has fallen more than 30% since the Iran war began in late February, with Saudi Arabia pumping at its lowest level since 1990 [...]

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qz
OPEC+ is raising oil output by 188,000 barrels per day in June — but the Strait of Hormuz blockade makes it largely symbolic

The 7-country group agreed to the increase Sunday, its first meeting since the UAE left the oil cartel on May 1 [...]

Match Score: 62.12

qz
OPEC+ is raising oil output quotas for a fourth straight month — but the Strait of Hormuz is still shut

Seven OPEC+ members approved a 188,000-barrel-per-day increase for July, a move analysts call largely symbolic while Gulf exports remain blocked [...]

Match Score: 61.16

Destination
Oil rises back above $100 and Dow futures slump as Trump threatens to blockade the Strait of Hormuz

U.S. Central Command said the Navy will blockade all maritime traffic entering or exiting Iranian ports starting Monday at 10 a.m. ET [...]

Match Score: 51.30

qz
Oil prices rise as OPEC+ increases production

OPEC+ plans to boost oil production by more than 500,000 BPD in August [...]

Match Score: 51.20

qz
OPEC+ is raising oil output for a sixth straight month, completing its 2023 cut rollback

Seven core OPEC+ members approved a 188,000 barrel-per-day increase for September, finishing the phased reversal of 1.65 million bpd in voluntary cuts [...]

Match Score: 48.63

qz
OPEC+ is raising oil output for a fifth straight month as Hormuz shipping recovers

Seven core members agreed Sunday to add 188,000 barrels per day in August, continuing a gradual unwinding of 2023 production cuts [...]

Match Score: 47.92

thenextweb
China’s electric taxis are blunting the Hormuz oil shock, but only at the margins

China’s crude oil imports fell 41.3% in June from a year earlier to 29.27 million tonnes, the lowest monthly total since October 2016, according to customs data released on 14 July. Five months in [...]

Match Score: 44.22

qz
Oil prices are surging to a one-month high as the U.S. reinstates its Iran blockade

Brent crude rose above $87 a barrel on Tuesday as fresh U.S.-Iran strikes and tanker attacks stoked fears over Hormuz supply flows [...]

Match Score: 40.94

qz
Oil is surging and AI stocks are sinking as Trump reinstates the Iran blockade

Brent crude climbed above $82 a barrel Monday after Trump declared the U.S. "Guardian of the Hormuz Strait" and renewed fighting slowed tanker traffic to a trickle [...]

Match Score: 40.93