Analysis Why the Hormuz oil shock never became an energy catastrophe The US-Israel-Iran war produced a historic oil supply shock but not a severe global economic crisis, due to ample prewar supplies, China's energy pivot and strategic reserve releases. By Samuel Wendel In Washington, DC, reporting on regional business and tech
Explainer After UAE and Qatar, could Iraq be next to leave OPEC? Iraq is seeking a higher production quota as the effective closure of the Strait of Hormuz has slashed oil revenues and plunged the country into a fiscal crisis. Iraq
Explainer Syria’s energy push could soon get a major boost from Chevron: What to know The country's leaders are seeking to translate a flurry of oil and gas agreements into concrete investments and rebuild an industry devastated by more than a decade of war, sanctions and isolation. Syria
Oil falls below $74 as Hormuz traffic recovers after Iran war Brent crude, the international benchmark for oil prices, was trading at $73.81 a barrel at 10:40 a.m. EDT, down 4.2% from Tuesday's close. Iran
China’s Xi heads to Saudi Arabia, adding strain to US ties Xi's visit to Saudi, the first in six years, will include two summits with Arab and GCC leaders and could see an agreement on nuclear technology Legacy: Gulf
OPEC+ decision to maintain production marks end of oil’s turbulent year The Saudi- and Russian-led cartel has both increased and decreased oil production this year, affecting global oil prices and relations with the United States in the process. Legacy: Gulf
International oil assets reported hit as Turkey strikes Syria's Kurdish zone Turkey’s wave of air attacks against Kurdish-controlled northeast Syria have reportedly hit oil assets run by international oil companies. Syria
Iran, Iraq sign $4 billion engineering agreement The deal comes at a notable time in Iran-Iraq relations, as the Islamic Republic continues to threaten and attack Kurdish groups in Iraq. Iran
Saudi Arabia announces new natural gas discoveries The kingdom is already a major oil exporter, but it could also start exporting natural gas in the near future. Legacy: Gulf
Qatar signs deal to sell Germany natural gas The agreement demonstrates the continued significance of Qatar's natural gas, despite pressure to transition to renewable energy. Legacy: Gulf
The Gulf Briefing: swapping petrodollars for assets In this weekly newsletter, Sebastian Castelier rounds up the biggest stories from the Gulf region. Legacy: Gulf
US urges Iran-backed Houthis to halt attacks on Yemen's ports The warning to the Houthis comes as US Special Envoy for Yemen Tim Lenderking returns to the region to push for peace between the country's warring sides. Yemen
Kuwait benefits from oil price boom but long-term economic challenges loom Key reforms and a lack of a diversified economy remain only two of Kuwait's major challenges. Legacy: Gulf
Israel agrees for Qatar to drill in Lebanese maritime gas field After agreeing for TotalEnergies and Eni to go ahead with exploration drilling at the Lebanese cross-border Kana-Sidon reservoir, Israel has approved the Qatari Energy Consortium to buy the drilling rights. Israel
Egypt, US, Germany launch plan to reduce methane emissions The COP27 initiative seeks to accelerate Egypt's green energy transition. Egypt
Saudi Aramco makes $7 billion investment in South Korea during crown prince’s visit Saudi Crown Prince Mohammed bin Salman is seeking to boost energy, defense and investment cooperation with Seoul during his trip. Legacy: Gulf
