They may have agreed on a provisional peace agreement last August, but Armenia and Azerbaijan nevertheless each had some of the highest military spending as a share of GDP in the world in 2025, according to data compiled by the Stockholm International Peace Research Institute.  Azerbaijan ranked 6th (6.5 percent) and Armenia 7th (6.1 percent)...Continue Reading

BW Offshore has signed a FEED agreement with Equinor for the Bay du Nord FPSO project offshore Canada, advancing the development toward a potential 2027 FID. SourceContinue Reading

A major fire reportedly broke out on Wednesday at a Russian oil pumping station in the Perm region in the Ural Mountains in a suspected drone attack just a day after Ukrainian President Volodymyr Zelenskyy touted the increasing range and accuracy of Ukrainian drones.  Ukraine’s Security Service (SBU) targeted a production and dispatch station owned...Continue Reading

Pakistan PM: Oil Import Costs Up 167% Since Iran War Began | OilPrice.com Alex Kimani Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com.  More Info Related News By Alex Kimani – Apr 29, 2026, 11:30 AM CDT Pakistan’s Prime Minister Shehbaz Sharif announced on Wednesday that the country’s oil import...Continue Reading

UK Faces Recession Risk as Iran War Threatens Growth and Inflation | OilPrice.com City A.M CityAM.com is the online presence of City A.M., London’s first free daily business newspaper. Both platforms cover financial and business news as well as sport and… More Info Premium Content By City A.M – Apr 29, 2026, 11:00 AM CDT U.K....Continue Reading

Phillips 66 Beats Q1 Estimates by $0.88 Per Share as Refining Margins Surge | OilPrice.com Alex Kimani Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com.  More Info Related News By Alex Kimani – Apr 29, 2026, 10:30 AM CDT In an earnings season highlighted by a Middle East conflict that...Continue Reading

Crude oil inventories in the United States decreased by 6.2 million barrels during the week ending April 24, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 459.5 million barrels according to government data, which is still 1% above the five-year average for this...Continue Reading

Barclays Sees UAE Oil Supply Growth Accelerating Post-OPEC | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Apr 29, 2026, 9:30 AM CDT After quitting OPEC and OPEC+, the United Arab Emirates (UAE) is set to grow its oil production faster when the current Hormuz crisis...Continue Reading

Russia has confirmed it will remain in OPEC+ following the UAE’s exit, signaling continued support for the alliance amid global oil market disruption. SourceContinue Reading

U.S. Military Buildup Signals Rising Risk of Wider Middle East War | 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 – Apr 29, 2026, 9:00 AM CDT The...Continue Reading