Washington has reportedly presented a one-page memorandum of understanding that would gradually reopen the Strait of Hormuz and lift the American blockade on Iranian ports.
Washington has reportedly presented a one-page memorandum of understanding that would gradually reopen the Strait of Hormuz and lift the American blockade on Iranian ports.
Major OPEC+ members agreed another modest symbolic increase to their oil output quotas for July, even as a blockage of exports from the Persian Gulf prevents most of them from implementing it.
Major OPEC+ members agreed another modest symbolic increase to their oil output quotas for July, even as a blockage of exports from the Persian Gulf prevents most of them from implementing it.
The headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Sunday, April 5, 2026. The United Arab Emirates will leave OPEC and its wider alliance, dealing a blow to the group and its leader Saudi Arabia as the global oil industry grapples with the massive supply disruption caused by the Iran war.
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