Exxon CEO Darren Woods estimates it will take 1-2 months for normal oil flows to resume after the Strait of Hormuz reopens. The timeline was provided during a company conference call.

The United Arab Emirates announces it will withdraw from the OPEC+ oil producers' alliance on May 1. The move by one of the group's largest producers signals a potential shift in global oil market control.

The United Arab Emirates has announced its intention to withdraw from the OPEC+ oil producers' alliance effective May 1, 2026.

Strait of Hormuz blockade splits Gulf oil exporters: Saudi and Oman poised for windfall as UAE petrodollar income drops.

The blockade of the Strait of Hormuz is creating an economic split among oil exporters in the Persian Gulf, with Saudi Arabia and Oman set for a windfall from higher prices and others including the UAE seeing a drop in petrodollar income.

Russia's Permnefteorgsintez oil refinery partially halts operations after a drone attack triggers a fire at its AVT-4 processing unit. The unit accounts for 38% of the plant's total capacity.

Russia's Permnefteorgsintez oil refinery has partially suspended operations following a drone attack that caused a fire at its AVT-4 primary processing unit, which handles 38% of the facility's capacity.

Naftogaz CEO reports 96 Russian strikes on company facilities since the start of 2026. The infrastructure remains a target amid the ongoing conflict in Ukraine.

The CEO of Naftogaz stated that Russian forces have conducted 96 strikes against the company's facilities since the beginning of 2026.