IEA

UAE oil exports hit 85% of pre-war levels, IEA says

The United Arab Emirates' oil exports rebounded to nearly 85% of pre-war levels in early June, according to the International Energy Agency, marking a rapid recovery enabled by pipeline infrastructure and alternative shipping routes that have allowed Gulf producers to…

Gulf oil tanker rates nearly double as Hormuz traffic resumes

Oil tanker operators are earning record profits this week after hire costs for vessels transiting the Strait of Hormuz and the wider Gulf region nearly doubled, driven by rising demand as commercial traffic through the waterway slowly resumes following the…

Oil glut bets revive as crude slumps after U.S.-Iran deal

A batch of nearly forgotten derivatives positions betting on an oil supply surplus are coming back into play as crude futures slump in the wake of the U.S.-Iran peace agreement, Bloomberg reported on Sunday. The options, which had been rendered…

OPEC chief dismisses IEA forecast of massive 2027 oil glut

OPEC Secretary General Haitham al-Ghais on Thursday dismissed the International Energy Agency's projection of a massive oil supply surplus in 2027, pushing back against the Paris-based agency's assessment that a resolution to the US-Iran conflict could flood global markets with…