Opec

Asia is most affected continent by Strait of Hormuz closure, with 80% of Gulf energy imports

A New York Times report revealed that Asian countries are entering an energy crisis due to the closure of the Strait of Hormuz, while Western nations will feel the economic effects of the war.

MARCH 24, 2026|ByTOBIAS HOLCMAN

Asia will be the most affected continent by the closure of the Strait of Hormuz.

US-Iran flare-up, cold stint push oil prices to multi-month peak

JPMorgan analysts estimated that winter storm Fern cut US oil production by roughly 250,000 barrels per day, disrupting flows from the Bakken and from fields in Oklahoma and Texas.

JANUARY 26, 2026|BySHIR PERETS

A person holds up an image depicting Venezuelan opposition leader Maria Corina Machado, as people celebrate after the US struck Venezuela and captured its President Nicolas Maduro and his wife Cilia Flores, in Santiago, Chile, January 3, 2026.

'I look forward to saying hello to her': Trump says on upcoming meeting with Venezuela’s Machado

Trump says Venezuelan opposition leader and Nobel Peace Prize laureate María Corina Machado is expected in Washington next week after US strikes captured Nicolás Maduro.

JANUARY 9, 2026|ByREUTERS

Ender Moreno looks for gold at La Culebra gold mine in El Callao, Bolivar state, southeastern Venezuela on March 1, 2017.

Venezuela’s energy, mining sectors in focus after Maduro capture - explainer

Despite holding the world’s largest oil reserves, Venezuela’s oil and mining output remains far below capacity after years of mismanagement, underinvestment and sanctions under Maduro.

JANUARY 5, 2026|ByREUTERS

US-OPEC oil controversy spotlights Saudi Arabia ties - analysis

OPEC is an intergovernmental organization founded in 1960 in Baghdad, and their decision to cut oil production is seen as potentially upsetting the US mid-term elections

OCTOBER 6, 2022BySETH J. FRANTZMAN

OPEC's Secretary-General Barkindo dies, Nigerian oil official says

Barkindo, who was 63 years old, was due to step down at the end of this month after six years as OPEC's secretary-general.

JULY 6, 2022ByREUTERS, JERUSALEM POST STAFF

Late OPEC secretary-general Mohammad Barkindo speaks while addressing delegates at the opening of the Nigeria Oil & Gas 2022 meeting in Abuja, Nigeria.

Replacing Russian oil supply to Europe is almost impossible, OPEC warns

Will the Middle East be able to increase oil exports if the European Union sanctions Russia over its invasion of Ukraine?

APRIL 13, 2022ByDEBBIE MOHNBLATT/THE MEDIA LINE

A meeting of the Organization of the Petroleum Exporting Countries at OPEC’s Vienna headquarters

OPEC+ Agreement remains unresolved after Saudi Arabia-UAE quarrel

In the wake of a public disagreement last week, no new deal was reached by the beleaguered 23-member petroleum export club.

JULY 6, 2021ByTARA KAVALER/THE MEDIA LINE

One of the water cooling towers at the Haifa oil refinery collapses, June 12, 2020

Bank Leumi: Oil futures forecast price decline in second half of 2021

The drop in prices in the latter half of 2021 will be due an increase in oil production by OPEC states and the prospects of lowered tensions with a new US-Iran nuclear deal.

JUNE 21, 2021ByJERUSALEM POST STAFF