Oil

Opec+ raises production targets by 188,000 bpd in fourth monthly increase OPEC+ raises production targets by 188,000 barrels per day from July as group says move will stabilise markets amid …

German industry reports rising material shortages as ifo survey shows 15.9% of firms affected German industry faces rising material shortages—ifo survey: 15.9% of firms hit in May. Oil and petrochemical …

Amazon oil drilling set to resume as Brazil, Petrobras announce R$2.5bn Urucú plan Lula and Petrobras to restart Amazon oil drilling at Urucú with R$2.5bn investment; officials say oil revenues …

U.S.-Iran ceasefire reportedly agreed, lifting oil sanctions and ending maritime blockade U.S.-Iran ceasefire reportedly agreed on a 60-day truce, with the U.S. easing oil sanctions and Iran clearing sea mines …

German producer prices surge in April as Iran-linked oil shock drives costs German producer prices rose 1.7% year‑on‑year in April as an Iran-related oil shock pushed energy and input costs …

German building modernization law advances after cabinet clears draft allowing oil and gas installations New draft of the building modernization law would let oil and gas heating be reinstalled, while …

US Reimposes Sanctions on Russian Oil Sector as Temporary Waiver Expires US reimposed sanctions on the Russian oil sector after a temporary waiver expired, ending an exemption meant to steady …

Three Oil Tankers Turn Off Tracking Systems While Transiting Strait of Hormuz Three oil tankers switched off tracking while transiting the Strait of Hormuz, each carrying about 2 million barrels, …

Aramco CEO warns world lost around one billion barrels of oil supply in two months Aramco CEO Amin Nasser says the world lost around one billion barrels of oil supply …