Iran produces roughly 3.5 million barrels of oil per day. The US has been for decades trying to make sure no country buys it, but the customers kept coming to the Islamic nation in the Gulf.

While US production leads, refinery mismatches and logistics keep Saudi Arabia as the top exporter, anchoring global supply ...

Asian refiners are considering slashing crude processing rates by up to 30% as the war in Iran has effectively closed the Strait of Hormuz, delaying critical Middle Eastern crude deliveries.

Countries around the world are feeling the impact of the conflict and the resulting energy price shock.

The US is the world's largest oil producer, and relatively insulated from shocks in the Middle East. Prices at the pump are rising anyway.

The U.S. is a net exporter of "crude oil and petroleum products," but in the narrower measure of crude oil by itself — which is the most important factor in determining gasoline prices — the U.S. is a ...

The top Asian refiner, China’s state-controlled Sinopec, plans to slash this month its refinery processing rates by 11-13% as crude supply is choked by the Middle East war ...

S. Korea's refining and petrochemical industries are considering cutting production as crude oil supply disruptions tied to ...

The cuts by state-owned Sinopec, which accounts for a third of China's refinery output, are part of Beijing's widening measures to curb oil supply disruptions due to Iran's blockage of the Strait of ...

India has opened talks with suppliers in the United States, Russia and parts of West Africa. The aim involves unhindered supplies in case the war in West Asia continues for a longer period.

That was President Donald Trump’s solution for lowering prices for millions of Americans when he was campaigning in 2024 for the top job. At the time, he wanted to expedite drilling permits that took ...