Oil and gas

A worker at a market for fuel oil and automotive fuel on March 17, 2026, in Erbil, Iraq.

Explainer

After UAE and Qatar, could Iraq be next to leave OPEC?

Iraq is seeking a higher production quota as the effective closure of the Strait of Hormuz has slashed oil revenues and plunged the country into a fiscal crisis.

Amjad Kurdo / Middle East Images / AFP via Getty Images

Explainer

Syria’s energy push could soon get a major boost from Chevron: What to know

The country's leaders are seeking to translate a flurry of oil and gas agreements into concrete investments and rebuild an industry devastated by more than a decade of war, sanctions and isolation.

Elke Scholiers/Getty Images

Oil falls below $74 as Hormuz traffic recovers after Iran war

Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close.

AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

Explainer

Hormuz tolls, frozen funds pose early tests for US-Iran peace progress

Early cracks are beginning to show following last week’s US-Iran deal announcement even as both sides move ahead with steps toward ending the four-month conflict.

Latest News

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Explainer

What’s the status of Strait of Hormuz after US-Iran talks?

Handout Photo by the US Navy via Getty Images

Oil falls more than 3% after Iran, US signal progress in talks

MUSCAT, OMAN - JUNE 21: Oil tankers and cargo vessels remain anchored off Port Sultan Qaboos around Qaboos Port on June 21, 2026 in Muscat, Oman. The Strait of Hormuz, a vital shipping route for the region's oil and gas, was effectively blockaded since the outbreak of war between the United States and Iran in late February. This week's provisional peace deal between the countries was meant to reopen the waterway to shipping traffic, but the pace of that reopening is unclear amid continued fighting in Lebano

Explainer

Oil’s slide wavers as Trump warns US-Iran deal ‘not final’

A general view shows the Awad oil field in the eastern Qamishli countryside in northeastern Syria, on Feb. 9, 2026.

Israeli Foreign Minister Eli Cohen meets with Greek Foreign Minister Giorgos Gerapetritis, Athens, July 6 2023

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.

OPEC Secretary-General Haitham Al Ghais

OPEC on hunt for new members, secretary-general says

The oil cartel currently has 13 members, and 10 more countries form the OPEC+ group.

Screenshot of video captured of M/T Richmond Voyager being approached by an Iranian naval vessel during an attempt to unlawfully seize the commercial tanker in the Gulf of Oman, July 5, 2023.

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.

JOE KLAMAR/AFP via Getty Images

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.

A picture shows the Iranian South Pars quarter one (SPQ1) gas platform in the Gulf near Qatar's territorial waters on Jan. 26, 2011.

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.

Saudi Arabia's Minister of Energy Abdulaziz bin Salman looks on during a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting, Vienna, Austria, Oct. 5, 2022.

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.

Oil rig in California

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.

Saudi Arabia Deputy Crown Prince Mohammed bin Salman (2L) and Chinese President Xi Jinping (R).

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.

A worker is seen at the Tawke oil refinery near the village of Zacho, in the autonomous Iraqi Kurdistan Region, May 31, 2009.

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.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

This photo taken on March 7, 2023 shows a cargo ship powered by LNG (Liquefied Natural Gas) loaded with containers at a port in Qingdao, in China's eastern Shandong province. (Photo by AFP) / China OUT (Photo by STR/AFP via Getty Images)

China signs major LNG deal with Qatar as Beijing’s Gulf push continues

QatarEnergy inked a 27-year agreement with the China National Petroleum Corporation (CNPC) to provide 4 million tons of LNG per year.

An Israeli Nature and Parks Authority employee dives in the Red Sea to remove corals that grew on columns supporting the Europe Asia Pipeline.

Israel to build land fiber-optic cable between Mediterranean, Red seas

Israel's Finance Ministry reached an agreement with an Israel state-owned energy company to construct a multi-optic-fiber between Ashkelon and Eilat, with the goal of turning the country into an international communication corridor.

A picture shows the beach in the town of Beit Lahia with a view of the towers of an Israeli power plant in the city of Askelon, northern Gaza Strip, Dec. 15, 2021.

Israel to work with Egypt, Palestine to develop Gaza gas field

After years of objection, Israel finally agrees to the development of the Marine undersea natural gas field, off the Gaza coast.