Qatar locks in US LNG through 2054 as it looks beyond Hormuz The Gulf state agreed to buy up to 4 million tons of US liquefied natural gas annually through 2054. Qatar
Gulf oil exports surpass prewar levels despite escalating tanker attacks According to data from Kpler, oil shipments through the Strait of Hormuz and alternative routes across the Middle East averaged more than 24 million barrels a day last week, surpassing prewar levels of 23.3 million. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Macron secures Gulf diesel supplies as France grapples with fuel costs, unrest France now has commitments for 295,000 metric tons of diesel per month from the Gulf, accounting for just over 10% of the European country’s consumption. Bahrain
Analysis As Iran’s oil lifeline runs dry, can it outlast Trump's economic siege? The country's last barrels of crude stockpiled beyond the reach of a US naval blockade fell to zero in October, raising the stakes for Tehran amid mounting economic distress. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Analysis How much oil can cushion another Middle East supply shock? By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
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
Top Saudi officials travel to China to attend 'Summer Davos' as ties deepen The kingdom’s economy minister and other top officials will participate in the so-called Summer Davos as China-Saudi ties continue to gain momentum. Legacy: Gulf
Analysis How Iraq’s new budget affects oil arrangement with Kurdistan region The success of Iraq's largest-ever budget is partially dependent on oil prices, and follows the federal government asserting more control over the Kurdistan Region's oil sector. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
