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Economy & Business

Pictured in this undated image is the Al-Thawra oil field in Raqqa governorate, as rehabilitation works continue to restore production capacity.

Syria restores Raqqa oil field in former ISIS stronghold: What to know

Before Syria's civil war erupted in 2011, national oil production stood at between 400,000 and 500,00 barrels per day before falling to under 100,000 bpd during the conflict.

Guests stand at the Aramco booth during the Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi on Nov. 3, 2025.

Aramco profits jump 26% as Hormuz disruption chokes supply

Aramco CEO Amin Nasser said the market has already lost around 1 billion barrels of oil supply since the US-Israel-Iran war erupted on Feb. 28.

In Bristol, reporting on regional business, climate change, AI, tech

Kaja Kallas

EU restores economic pact to pursue fuller trade ties with Syria

The move marks a major economic step for Syria's recovery after its 13-year civil war and the fall of the Assad regime.

CN-STR / AFP via Getty Images

China’s overland trade routes offer Iran wartime economic lifeline: What to know

Cargo rail traffic between China and Iran has reportedly surged since the US blockade began in April as Tehran seeks overland trade alternatives to help buy time.

Latest News

What to know about Iran's 'Persian Gulf Strait Authority' to control Hormuz traffic

In this picture obtained from Iran's ISNA news agency on May 4, 2026, the Iran-flagged tugboat Basim sails near a ship anchored in the Strait of Hormuz off Bandar Abbas in southern Iran.

Egypt ramps up energy investments amid war-driven price pressures

Egyptian Prime Minister Mostafa Madbouly speaks in Beirut on Dec. 19, 2025.

Few ships pass Hormuz despite US efforts to break Iran's hold

Tankers are seen at the Khor Fakkan Container Terminal in the Sharjah Emirate, along the Strait of Hormuz on June 23, 2025. (Photo by Giuseppe CACACE / AFP) (Photo by GIUSEPPE CACACE/AFP via Getty Images)

Samuel Wendel

Senior Market Research Analyst

In Washington, DC, reporting on regional business and tech

Adam Lucente

News and Business Correspondent

In New York City, reporting on regional news, militancy, climate change

Jack Dutton

Chief Business Correspondent

In Bristol, reporting on regional business, climate change, AI, tech

Sabena Siddiqui

In Karachi, reporting on South Asia, Middle East, Iran

Vanessa Ghanem

In Dubai, reporting on business, energy and politics

Francisco Serrano

In Lisbon, reporting on North Africa business

Basra Oil Company's Director General Bassem Abdul Karim (R).

In Iraq and Algeria, TotalEnergies signs major deals

The deal between Iraq and TotalEnergies has been delayed for years and aims to help Iraq fix its longstanding power issues.

Kevin Frayer/Getty Images

UAE sees higher Chinese car sales as China faces decline at home

China relied on overseas markets to maintain 56% of its vehicle sales in June, and the Middle East is a hot spot.

United Arab Emirates

This picture taken on April 18, 2023 shows the Green Hydrogen Plant built by Spanish company Iberdrola in Puertollano.

Analysis

Morocco's agricultural independence to get boost from green ammonia plant

The project by the state-owned company in Tarfaya will help the North African country meet the domestic demand for the compound, which is a crucial ingredient in nitrate fertilizers.

In Bristol, reporting on regional business, climate change, AI, tech

A picture taken on October 13, 2021 shows Kuwait's largest oil refinery at the Al-Ahmadi complex, about 40 kilometres (25 miles) south of the capital Kuwait City. - A fire broke out on October 18, 2021 in Al-Ahmadi refinery, with no interruptions to site operations or petrol exports. The fire was reported at the site of Mina al-Ahmadi, located on the Gulf coast just opposite Iran, according to an AFP photojournalist. (Photo by AFP) (Photo by -/AFP via Getty Images)

Analysis

Saudi Arabia, Kuwait's gas dispute with Iran tests recent detente

Kuwait and Saudi Arabia consider the Durra gas field to be theirs, but Iran claims a part of it. The issue shows disagreements remain between Riyadh and Tehran following the resumption of diplomatic relations.

Adam Lucente

By Adam Lucente

In New York City, reporting on regional news, militancy, climate change

A Qatari trader prepares before the opening of the stock market at the Qatari stock exchange in Doha on July 31, 2017. / AFP PHOTO / STRINGER (Photo credit should read STRINGER/AFP via Getty Images)

Qatar joins Gulf IPO spree as post-World Cup economic plans advance

Samuel Wendel

In Washington, DC, reporting on regional business and tech

AFP via Getty Images

Analysts skeptical new Iran-US arrangement would significantly impact oil market

Tehran has been increasing its output over the last year despite the sanctions on its oil industry.

ISTANBUL, TURKEY - MAY 03: People shop at a local street market on May 03, 2023 in Istanbul, Turkey. Persistently high inflation has led to a cost-of-living crisis in Turkey that has hurt President Erdogan's popularity ahead of the March 14 presidential election. (Photo by Burak Kara/Getty Images)

Turkey raises taxes up to 20% on basic goods as deficit, inflation linger

The move follows changes to Turkey’s monetary policy and a new cabinet following President Recep Tayyip Erdogan’s reelection.

This picture taken from the sea of Dubai on March 3, 2021 shows the skyline of the Gulf emirate with Burj Khalifa in the centre.

UAE breaks foreign direct investment record as Saudi Arabia sees 59% dip

Israel and the United Arab Emirates led the Middle East and North Africa for the highest FDI inflow — the purchasing of assets in another country — and globally placed 15th and 16th, respectively, according to a UNCTAD report released Wednesday.

United Arab Emirates

Sultan Al Jaber

UAE COP28 president calls on oil firms to 'deliver climate action'

Sultan Ahmed Al Jaber gave a televised address to delegates at the OPEC International Seminar in Vienna, a meeting of oil executives and OPEC ministers.

United Arab Emirates

OPEC Secretary-General Haitham Al Ghais

OPEC on hunt for new members, secretary-general says

The oil cartel currently has 13 members, and 10 more countries form the OPEC+ group.

Justin Rose of England and his caddy look on, on the 9th hole during Day Four of the Saudi International.

Saudi Arabia to launch new sports investment group: report

The Financial Times report follows the merger between the Saudi-funded LIV Golf and the PGA Tour, but challenges remain as the kingdom eyes investment in golf, tennis and possibly American football.

JOE KLAMAR/AFP via Getty Images

At OPEC, Saudi Arabia defends oil cuts with Russia despite mild market reaction

The kingdom's energy minister called for more industry transparency, despite several news organizations being prohibited from reporting on the OPEC conference he was speaking at.