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world oil prices
Latest news regarding world oil prices.
Three months of Middle East conflict: World oil exports fall by 71 million tons, shipping rates soar.
The Strait of Hormuz is almost paralyzed, significantly disrupting the flow of renewable energy. Middle Eastern oil exports have fallen by 50%, while transportation costs remain at record levels.
Market
The IEA warns that the oil market will enter "red zone" from July 2026.
The International Energy Agency (IEA) forecasts that the global oil market faces a serious shortage risk in the third quarter of 2026 as strategic reserves gradually run out.
OPEC+ plans to increase oil production quotas by 188,000 barrels per day starting in July 2026.
Seven OPEC+ member countries are expected to raise their oil production targets for the fourth consecutive month, despite the risk of supply disruptions in the Middle East and the UAE's departure from the group.
China's refined crude oil output hit its lowest level in nearly four years.
Oil refining activity in China declined in April 2026 due to negative profit margins. Production reached 13.3 million barrels per day, the lowest level since August 2022.
World oil prices today, May 14th: WTI oil surpasses $101, Brent oil maintains the $106 mark.
At the close of trading on May 13th, world crude oil prices continued their upward trend, with WTI reaching $101.58 per barrel. Meanwhile, natural gas prices increased by 0.81%, while RBOB gasoline prices decreased slightly.
Iran demands that the US accept its 14-point peace proposal, which Washington immediately rejected.
On May 13, according to AFP, Iranian officials stated that Washington must accept Tehran's 14-point peace proposal or face defeat. However, US President Donald...
Trump rejects Iran's peace terms, Tehran warns of new attacks.
Hopes for a diplomatic way out of the Middle East conflict have just faced a major setback as US President Donald Trump flatly rejected proposals from Tehran. This move immediately...
Bloomberg: Global oil reserves are depleting at a record rate.
May 10, 2026 16:12
According to the latest report, global oil reserves are shrinking at a record rate due to ongoing conflicts in the Middle East. This situation not only directly threatens...
Goldman Sachs: Global oil inventories plummet, hitting an 8-year low.
May 5, 2026 12:00
Goldman Sachs warns that global oil reserves could fall to just 98 days' worth of consumption by May 2026 amid escalating tensions in the Strait of Hormuz.
OPEC+ will increase oil production quotas by 188,000 barrels per day in June 2026.
May 4, 2026 12:01
The OPEC+ alliance decided to raise its production target for the third consecutive month to stabilize the market amid oil prices exceeding $125 per barrel and supply disruptions from the Strait of Hormuz...
OPEC+ will increase oil production quotas by 188,000 barrels per day in June 2026.
May 4, 2026 11:30
The seven OPEC+ member countries agreed to raise their oil production targets in June 2026 to maintain market stability after the UAE left the alliance and the conflict with Iran disrupted oil supplies...
Tehran warns of the risk of renewed conflict with the US as negotiations stall.
May 2, 2026 17:06
On May 2nd, a senior Iranian military official warned that the risk of renewed armed conflict with the United States was "very likely." This statement came shortly after US President Donald...
Indian oil imports in March 2026: Middle Eastern supply down 61%, Russian oil accounts for 50%.
April 26, 2026 11:33
India's crude oil imports in March 2026 fell by 13%, to 4.5 million barrels per day. Disruptions in the Strait of Hormuz caused the share of Middle Eastern oil to fall to a record low, forcing...
The US and Iran threaten to resume conflict ahead of the expiration of their ceasefire.
April 21, 2026 08:36
The two-week ceasefire between the US and Iran is entering its final hours. With the next round of talks in Pakistan still up in the air, both Washington...
Europe faces the risk of aviation fuel shortages: Imports from the US and Nigeria reach peak levels.
April 17, 2026 17:02
Europe recorded record-high levels of aviation fuel imports from the US and Nigeria amid supply disruptions from the Gulf region due to geopolitical conflicts.
Trump announced that Iran had agreed to hand over uranium, and the 10-day ceasefire between Lebanon and Israel was in effect.
April 17, 2026 08:28
On the morning of April 17th (Vietnam time), the 10-day ceasefire agreement between Israel and Lebanon officially came into effect, bringing a much-needed lull to the region.
US crude oil inventories fell by 913,000 barrels, while gasoline and diesel inventories also dropped sharply.
April 16, 2026 14:59
U.S. crude oil and fuel inventories fell sharply last week as exports surged and imports hit record lows amid volatile global supply.
US crude oil and gasoline inventories fell sharply, while Brent crude oil prices remained at $95.08.
April 16, 2026 14:32
A report from the U.S. Energy Information Agency (EIA) shows a sharp decline in gasoline inventories as imports hit record lows due to the impact of the conflict in the Strait of Hormuz.
Sanctions against Russian oil: 3 reasons why the US once had to ease them.
April 16, 2026 08:49
The US Treasury Secretary explained how Washington eased sanctions on Russian oil to prevent soaring prices, along with the decision to end the latest waiver.
OPEC lowered its forecast for oil demand in the second quarter of 2026 to 105.07 million barrels per day.
April 16, 2026 05:01
The Organization of Petroleum Exporting Countries (OPEC) has just revised down its oil demand forecast for the second quarter of 2026 by 500,000 barrels per day due to the impact of tensions in the Middle East.
Targeting 10% GDP growth and the challenge of oil prices exceeding $100.
April 15, 2026 16:01
The Vietnamese government aims for an average GDP growth of 10% during the 2026-2030 period, amidst global oil prices exceeding $100 per barrel, putting significant pressure on inflation and macroeconomic stability...
US-Iran talks are gearing up, while Israel and Lebanon reach a historic turning point?
April 15, 2026 09:27
Shuttle diplomacy efforts are yielding positive signals amidst the still volatile Middle East situation. The possibility of resuming peace negotiations between...
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