The tentative U.S.-Iran deal and the expected drop in oil prices amid increasing flows from the Middle East are set to help narrow India’s trade deficit, which held at relatively high levels in April and May due to the crude price shock. Higher refined petroleum products helped India’s trade deficit narrow slightly to $28.21 billion...Continue Reading

Hormuz Reopens as Traders Price Out the War Premium | OilPrice.com Tom Kool Tom majored in International Business at Amsterdam’s Higher School of Economics and later completed an Executive MBA in Energy Transition at the University of Groningen.… More Info Premium Content By Tom Kool – Jun 16, 2026, 11:05 AM CDT The U.S.-Iran agreement...Continue Reading

The extended disruption caused by the US-Iran conflict highlights a need for diversifying energy export routes to reduce dependency on shipping via the Strait of Hormuz. A new initiative launched by the Washington, DC-based New Lines Institute seeks to develop Syria and Turkey into major energy distribution hubs. The Four Seas Initiative outlines an expansive...Continue Reading

ADNOC has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity. SourceContinue Reading

U.S. EV Adoption Slows While Global Demand Accelerates | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jun 16, 2026, 10:30 AM CDT Electric vehicle sales in the United States are set to account for only 17% of all nationwide passenger vehicle sales in 2030, BloombergNEF...Continue Reading

Australian LNG Strike Threatens Global Gas Supply as Qatar Recovery Lags | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jun 16, 2026, 9:30 AM CDT The ongoing strike action at Australian LNG facilities of Inpex is expected to disrupt operations significantly, a senior official at...Continue Reading

Aker BP is expanding deployment of AI-powered computer vision technology across its offshore drilling fleet, using DrillDocs’ CleanSight system to improve drilling efficiency, identify wellbore instability and reduce nonproductive time. SourceContinue Reading

U.S. and Iran Digitally Sign Peace Deal to Reopen Strait of Hormuz | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – Jun 16, 2026, 9:00 AM CDT...Continue Reading

Equinor has outlined plans to increase production to 2.3 MMboed by 2030, supported by higher investment in oil and gas projects, expanded activity on the Norwegian Continental Shelf and 30% growth in international production. SourceContinue Reading

Brent crude fell below $80/bbl for the first time in more than three months as markets priced in increased oil supply following the U.S.-Iran agreement to reopen the Strait of Hormuz. Analysts lowered price forecasts as expectations grew for a recovery in Persian Gulf exports. SourceContinue Reading