Oil and gas

aqi security personnel patrol in a vehicle along a street in Baghdad on June 28, 2026.

Analysis

Iraqi PM’s anti-corruption drive comes as US pressure mounts on Iran-backed militias

Iraq’s new prime minister has launched a sweeping anti-corruption campaign ahead of key talks in Washington, but analysts say the real test will be whether it reaches Iraq’s most powerful Iran-backed actors.

Amberin Zaman

By Amberin Zaman

Reporting on geopolitics, minorities, human rights, culture

AFP via Getty Images

Traffic plummets through Strait of Hormuz after Iran, US trade fire

Shipping through the Strait of Hormuz had recovered somewhat before renewed fighting between Iran and the United States saw traffic drop sharply over the weekend.

A tourist boat passes near crude oil tankers, bulk carriers, and other vessels anchored off Port Sultan Qaboos in Muscat, Oman, June 19, 2026.

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.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

A worker at a market for fuel oil and automotive fuel on March 17, 2026, in Erbil, Iraq.

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.

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Explainer

Syria’s energy push could soon get a major boost from Chevron: What to know

Amjad Kurdo / Middle East Images / AFP via Getty Images

Oil falls below $74 as Hormuz traffic recovers after Iran war

Elke Scholiers/Getty Images

Explainer

Hormuz tolls, frozen funds pose early tests for US-Iran peace progress

AMIRHOSSEIN KHORGOOEI / ISNA / AFP via Getty Images

Explainer

Qatar blast underscores challenges in race to restart Gulf energy flows

Qatar's Energy Minister and CEO of QatarEnergy Saad Sherida al-Kaabi speaks during a press conference in Doha on June 22, 2026.

Cairo breathes sigh of relief as Saudi oil exports resume through Bab el-Mandeb

Saudi Energy Minister Khalid Falih announced that his country resumed oil exports via the Bab el-Mandeb Strait, amid Egyptian fears that a decrease in traffic in the popular shipping corridor could impact Suez Canal revenues.

Will Russia, Iran dash Turkey's hopes of becoming energy corridor?

The recently signed Caspian protocol between the Caspian littoral states means that Iran and Russia can thwart Turkey’s hopes of transporting Turkmen gas and Kazakh oil via Turkey to Europe.

Will Iran, Russia step up energy cooperation to blunt US sanctions?

Amid rising US pressure, Tehran and Moscow might be on the cusp of a new era of economic cooperation, particularly in the energy sector.

Egypt to build $11 billion petrochemical complex

As Egypt invests in refining crude oil at home, domestic fuel prices continue to rise.

A picture taken on May 31, 2015 shows Iraqi flags fluttering in front of a tank for oil at al-Fao (also spelled al-Faw) storage terminal, located on the al-Fao Peninsula, south of the Iraqi province of Basra. AFP PHOTO / HAIDAR MOHAMMED ALI (Photo credit should read HAIDAR MOHAMMED ALI/AFP/Getty Images)

Floating oil island will handle Iraq's expected spurt in exports

Now that OPEC has approved an increase in oil production, Iraq expects to boost its exports significantly, and to accommodate that increase, South Oil Co. will develop a floating oil island.

Russian President Vladimir Putin shakes hands with Saudi Crown Prince Mohammed bin Salman during their meeting at the Kremlin in Moscow, Russia June 14, 2018. Yuri Kadobnov/Pool via REUTERS - RC1F6D500190

Saudi crown prince, Putin boost energy cooperation in Moscow meeting

The recent meeting between the Russian president and the Saudi crown prince appears to have moved the two countries closer to a grand bilateral energy deal.

Italy may impede Turkish-Azeri efforts for EU gas corridor

Turkey and Azerbaijan realize EU's gas corridor dream, but serious questions remain unanswered.

JABALIYA, GAZA - MARCH 29: A Palestinian woman walks past a petrol pump at a fuel station on March 29, 2010 in Jabaliya, Gaza Strip. Fuel in Gaza is supplied primarily from the tunnels via Egypt, but is of poor quality. Nearly all goods for sale in Gaza have been smuggled from Egypt via smuggling tunnels, bringing in food, fuel, livestock, motorcycles and medicine. Gaza's economy and employment levels have plummeted since the Israelis imposed a blockade after Hamas seized control in 2007. (Photo by Warrick

Rapid spread of gas stations fuels controversy in Gaza

Gas stations are increasingly being invested in under the degenerating economic and humanitarian situation in the Gaza Strip, pointing at conflicting interests between Gaza’s Ministry of Finance and Planning and the Ministry of Local Government.

Russia might not be ready for long-term OPEC commitment

Saudi Arabia seems to think Russia is on board with a lengthy OPEC deal, but Moscow has a lot of factors to consider.

The Homer Ferrington gas drilling rig, operated by Noble Energy and drilling in an offshore block on concession from the Cypriot government, is seen during President Demetris Christofias' visit in the east Mediterranean, Nicosia November 21, 2011. REUTERS/Cyprus Public Information Office/Handout/File Photo FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS

Erdogan stays silent on Qatar amid Cyprus gas row

Amid an escalating dispute over gas exploration off Cyprus, observers in Turkey are perplexed about why Ankara is sparing Qatar while harshly reacting to other countries and companies cooperating with the Greek Cypriots.

Landowners waiting for next step in Jordan-Israel gas pipeline

Members of the Jordanian Bar Association are readying lawsuits to challenge land expropriations for the construction of a pipeline for natural gas from Israel's Leviathan field.