The head of the International Energy Agency (IEA) has warned that commercial oil inventories are depleting rapidly and that the world only has a few weeks' worth of oil reserves left due to the situation in the Strait of Hormuz caused by the US-Israeli aggression against Iran.
News ID: 5427
Publish Date: 2026/05/18
The United States is releasing 53.3 million barrels of crude oil from its Strategic Petroleum Reserve to energy companies in an attempt to calm global markets shaken by the war against Iran and the disruption of shipping through the Strait of Hormuz.
News ID: 5326
Publish Date: 2026/05/12
Brent crude prices surged by as much as 7% during Thursday's global market trading, driven by intensified fears over further disruptions to oil supplies from the Middle East.
News ID: 5175
Publish Date: 2026/04/30
The United Arab Emirates announced on Tuesday that it will withdraw from OPEC and the OPEC+ alliance, delivering a severe blow to the oil-exporting bloc and Saudi Arabia amidst a historic energy shock triggered by the war imposed against Iran.
News ID: 5150
Publish Date: 2026/04/28
Oil prices have risen after Iranian officials emphasized that the Strait of Hormuz will “under no circumstances” return to its previous state for the US and its allies.
News ID: 5124
Publish Date: 2026/04/27
As one of the most vital refining hubs in Iran, the Isfahan Oil Refinery is undergoing a significant transformation through the implementation of advanced quality-upgrade projects and the development of cutting-edge process units.
News ID: 3335
Publish Date: 2025/12/31
Hamid Hosseini, spokesperson for the Union of Petroleum Products Exporters, said that despite U.S. sanctions and market pressures, Iran has successfully maintained its exports and is now positioned to expand them once new Chinese import licenses are issued.
News ID: 1437
Publish Date: 2025/09/30
Iran’s Oil Minister Mohsen Paknejad says the country has been planning for a potential scenario in which the United Nations sanctions are re-imposed on the country as part of efforts by European powers to force Tehran to change its nuclear policy.
News ID: 420
Publish Date: 2025/07/28
Iran has maintained its position as the second-largest oil refiner in the Organization of the Petroleum Exporting Countries (OPEC), a sign that the country is using the best of its petroleum industry resources despite US sanctions targeting the sector.
News ID: 161
Publish Date: 2025/07/08
As regional tensions escalate amid the Israeli regime’s brutal aggression against the Islamic Republic, the possibility of the closure of Strait of Hormuz is a possibility, according to experts.
News ID: 14
Publish Date: 2025/06/23