The OPEC+ alliance is set to approve another modest increase in oil production quotas for June, pressing ahead with its supply strategy despite the ongoing closure of the Strait of Hormuz, one of the world’s most critical oil shipping routes, according to sources familiar with the matter. Planned Output Increase Continues “Business as Usual” Seven […]
Finance ministers from the Group of Seven (G7) advanced economies are set to hold an emergency meeting on Monday to consider a joint release of strategic oil reserves in an effort to calm surging global crude prices and shield vulnerable economies from further fallout, a French government source said. The talks, confirmed by officials in […]
Governments across Asia, Europe and Africa are rushing to shield their economies from the growing fallout of the war involving Iran, as global oil prices surge to their highest levels in years and financial markets react with sharp volatility. Energy markets were jolted Monday after escalating fighting in the Middle East raised fears of major […]