Opec

Brent falls as Israel, Hizbollah agree to ceasefire

At US$79 a barrel by 1303 GMT, it is down US$0.85 or 1.1%

World demand will rise to 113.3 million bpd in 2030 from 105.1 million barrels per day in 2025.

Opec sticks to robust oil demand outlook, sees no peak on horizon

The report comes as Opec contends with unprecedented challenges in 2026

Brent crude futures were down US$2.48, or about 3 per cent, at US$80.69 a barrel by 1205 GMT on Tuesday.

Oil drops nearly 3% to 3-month low as markets weigh US-Iran peace deal

Shippers are awaiting reassurance on safety to cross the strait

US President Trump said on Sunday that the Strait of Hormuz would be open “toll free” and that a US naval blockade of Iranian ports would also end.

Oil hits 3-month low as US, Iran reach peace deal to reopen Strait of Hormuz

The US and Iran will sign a memorandum of understanding in Switzerland on Friday

Based on the report on OPEC’s website, it also raises its forecast for 2027 oil demand growth.

Opec lowers 2026 global oil demand growth forecast again

This is the second straight downward revision, to 970,000 barrels a day

An Iranian missile over Israel on Jun 7, as seen from Hebron in the Israeli-occupied West Bank.

Oil jumps as Iran and Israel exchange fire with ceasefire at risk

Even if a US-Iran peace deal is agreed, multiple hurdles will impede normal resumption of oil flows

Ships transiting Hormuz had ferried about one-fifth of the world’s energy supply before the war.

Opec+ to boost oil production as US-Iran ceasefire remains elusive

The effective shutdown of Hormuz makes the increase largely symbolic

The Abu Dhabi National Oil Company CEO, Sultan Al-Jaber, said the UAE would continue to be a responsible, stabilising force in energy markets.

UAE left Opec to pump more as end of oil era looms, presidential adviser says

The decision can have a major impact on the organisation’s control over supplies when oil flows normalise

Brent traded near US$107 a barrel on Thursday, after sliding 5.6 per cent in the previous session.

Oil hits session high on report Iran wants to keep its uranium

The Strait of Hormuz closure was the market’s most severe supply disruption on record

Brent crude futures were up 98 cents, or 0.9 per cent, to US$106.61 a barrel at 0916 GMT on Thursday.

Oil edges up as investors focus on Trump-Xi meeting in Beijing

Iran appears to have tightened its control over the Strait of Hormuz