The United Arab Emirates has announced it’s withdrawing from OPEC and OPEC+.
China’s shipyards are emerging as beneficiaries from the US-Israeli war on Iran, securing new orders as crude transport bottlenecks worsen and global demand for large oil tankers rises. With the United States and Iran effectively blockading the Strait of Hormuz – a chokepoint that handles about a quarter of the world’s seaborne oil – shipping companies are racing to expand capacity, particularly in very large crude carriers (VLCCs) capable of transporting about 2 million barrels of oil per...
The United Nations has issued a grim warning about the costs of prolonged conflict in Iran for the Asia-Pacific region, forecasting job losses, crippling inflation and food insecurity, with the poorest nations brutally exposed to the oil shock and millions of informal workers facing the body blow of rising transport costs. More than 8 million people in the Asia-Pacific could be plunged into poverty if a crisis that has closed the Strait of Hormuz continues to drag on, according to a study...
African nations are scrambling to secure oil and gas as the Iran war disrupts supplies from the Middle East.
Pakistan braces for gas shortage crisis as LNG supplies collapse amid escalating regional conflict.
A month into the Iran war, Washington still says it expects to achieve its objectives in weeks, not months. That may prove optimistic. The terms on offer from the United States and Iran barely overlap, and markets remain unconvinced a durable settlement is close. But one fact is clear: the war’s most consequential effects may be felt not only in the Middle East but across East Asia. It would be a mistake to see this as only an oil story. It is also about hierarchy. In East Asia, the war is...
An oil-supply shock caused by the US-Israel conflict with Iran is complicating US President Donald Trump’s already fragile mineral-alliance strategy, analysts said, given the acute vulnerability of energy-intensive rare earth refining and critical metal supply chains to such disruption. Oil and gas are essential for the critical mineral industry, according to analysts. Hydrometallurgical extraction for rare earth elements and other metals, such as nickel and cobalt, relies on a suite of chemical...