The International Energy Agency (IEA) announced a historic 400 million barrel oil release Wednesday. This move aims to curb soaring crude prices caused by the U.S.-Israeli war with Iran. The decision affects global markets, oil-importing nations, and energy consumers worldwide. IEA member countries unanimously agreed to the strategic release, while exact timing will be announced […]
Iran war oil impact
OPEC confirms major Saudi oil production hike
The OPEC said on Wednesday that Saudi Arabia sharply increased oil production in February ahead of US and Israeli strikes on Iran. The kingdom’s output reached 10.882 million barrels per day, up from 10.10 million in January. OPEC kept its demand growth forecasts steady. Sources familiar with Saudi plans said the increase was a contingency […]