Iraq devalues dinar 13% as Hormuz disruption hits oil revenue The central bank said in a statement that it had revised the official exchange rate to 1,520 Iraqi dinars per dollar from around 1,320. Iraq
Explainer Rubio says Iran ‘lost’ Hormuz. Has it? US Secretary of State Marco Rubio said Wednesday that Iran has “lost complete control” of the waterway, pointing to the recovery in Gulf oil exports in September. Iran
Turkey, Pakistan to deploy forces to Saudi Arabia amid Houthi attacks Turkish, Saudi and Pakistani officials agreed to bolster military cooperation under the Mecca defense pact as Houthi attacks and fighting in Yemen intensify. Turkey
Mideast oil exports surpass prewar levels despite pipeline, ship attacks Bloomberg reported on Monday, citing sources, that Saudi Arabia’s key East-West Pipeline was flowing as normal, despite an earlier report that it had closed again following a new attack. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis As Iran’s grip on Hormuz weakens, what leverage does Tehran have left? By A correspondent in Tehran In Tehran, reporting on politics
Analysis Saudi Arabia, Kuwait's gas dispute with Iran tests recent detente Kuwait and Saudi Arabia consider the Durra gas field to be theirs, but Iran claims a part of it. The issue shows disagreements remain between Riyadh and Tehran following the resumption of diplomatic relations. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
Iran boasts to OPEC of growing crude sales despite sanctions Iran's top energy official told oil-exporting nations that the Islamic Republic is in good shape bypassing sanctions to sell its lifeline product as he advertised an attractive investment market in his country. Iran
Analysts skeptical new Iran-US arrangement would significantly impact oil market Tehran has been increasing its output over the last year despite the sanctions on its oil industry. Iran
UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip Israel and the United Arab Emirates led the Middle East and North Africa for the highest FDI inflow — the purchasing of assets in another country — and globally placed 15th and 16th, respectively, according to a UNCTAD report released Wednesday. United Arab Emirates
UAE COP28 president calls on oil firms to 'deliver climate action' Sultan Ahmed Al Jaber gave a televised address to delegates at the OPEC International Seminar in Vienna, a meeting of oil executives and OPEC ministers. United Arab Emirates
Israel’s FM Cohen discusses Iran threat, energy cooperation in Greece Israel’s Foreign Minister Eli Cohen met Thursday with newly his appointed Greek counterpart Giorgos Gerapetritis. Israel
OPEC on hunt for new members, secretary-general says The oil cartel currently has 13 members, and 10 more countries form the OPEC+ group. Legacy: Gulf
Shots fired as Iran tries to seize oil tankers in Gulf of Oman, US Navy says The United States said Iran’s navy opened fire on a commercial tanker while attempting to seize it off the coast of Oman, in the latest tense encounter since Washington has moved to block sanctioned exports of Iranian petroleum. Legacy: Gulf
At OPEC, Saudi Arabia defends oil cuts with Russia despite mild market reaction The kingdom's energy minister called for more industry transparency, despite several news organizations being prohibited from reporting on the OPEC conference he was speaking at. Saudi Arabia
Kuwait rejects Iran's drilling plans in disputed gas field in Gulf Kuwait and Saudi Arabia have a longstanding dispute with Iran over the Durra gas field. The recent disagreement follows improvement in Iran's relations with both countries. Legacy: Gulf
Saudi Arabia extends oil production cut in attempt to increase prices Russia also moved to tighten supply, announcing it would reduce oil exports to 500,000 bpd in August. Saudi Arabia
Oil prices reach fourth quarterly decline on fears of economic slowdown Benchmark Brent crude futures for September were up 82 cents, or 1.1%, at $75.33 a barrel on Friday. Legacy: Gulf
