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 […]
A group of countries has proposed the creation of a safe maritime corridor to evacuate an estimated 20,000 seafarers stranded in the Persian Gulf, as escalating conflict involving Iran continues to disrupt one of the world’s most critical shipping routes. The proposal was submitted to the International Maritime Organization (IMO) during an emergency council meeting […]
Iran could potentially disrupt shipping through the strategically vital Strait of Hormuz for months using waves of drone attacks, according to military analysts and intelligence officials, raising fears of prolonged instability in global energy markets. The warning comes as tensions escalate across the Middle East following recent strikes by the United States and Israel on […]