The world, in perspective.

In recent weeks, Tehran has made multiple announcements saying ships had caught fire in the strait, often claiming they struck mines.

Nigeria’s crude oil and condensate production rose to an average of 1.69 million barrels per day in October, a 5.7% year-on-year increase. Read More: https://punchng.com/nigeria-records-1-69m-barrels-daily-oil-output-in-october/

Nigeria’s oil and gas industry deferred approximately 42.55 million barrels of crude oil and condensate in 2025, with the affected production carrying an estimated market value of $2.97bn. Read More: https://punchng.com/pipeline-outages-delay-42-6m-barrels-of-oil/

Nigeria lost 3.33 million barrels of crude oil to theft in 2025, contributing to a N2.14tn revenue decline, the NUPRC’s annual report has revealed. Read More: https://punchng.com/nigeria-lost-3-3m-barrels-to-oil-thieves-in-2025-nuprc/

The disruption of shipping through the Strait of Hormuz has drained nearly one billion barrels from global oil inventories, exposing the need for a fundamental rethink of energy security, the Adipec conference in Abu Dhabi heard on Monday. “Simply put, the world has eroded its supply buffers,” said Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Te

You'd think someone else would've successfully taken gore to the next level.

Four oil tankers, including a 'supertanker' carrying more than two million barrels of oil, have hit mines and caught fire while travelling through the Strait of Hormuz.

Eleven EU countries have pledged to jointly release 42.6 million barrels of oil from strategic reserves by January 2027, following a G7 agreement. Read More: https://punchng.com/eu-to-release-42-6m-barrels-of-oil-after-g7-pledge/

Europe will release 42 million barrels of oil reserves into the market over the next three months as part of its commitment to ease prices, France’s economy minister Roland Lescure said on Thursday. Half of that release will be diesel, Mr Lescure said ahead of a meeting of EU energy ministers in Luxembourg. Group of Seven nations agreed last month to release

<p>President at Texas campaign rally hails deal struck with post-Maduro government as ‘greatest oil victory in history’</p><p>Donald Trump suggested Venezuela would become the 51st state of the United States on Tuesday as the president showed off a tanker he claimed had “one million barrels of oil on it” from the country, nine months after <a href="https://w

President Donald Trump and Secretary of State Marco Rubio on Tuesday plan to show off a newly arrived oil tanker filled with Venezuelan crude to be processed in Texas refineries.

Nigerian domestic refineries received over 127 million barrels of crude oil and condensate between January and September 2026, the NUPRC has disclosed. Read More: https://punchng.com/domestic-refineries-receive-127m-barrels-of-crude/

Nigerian domestic refineries received over 127 million barrels of crude oil between January and September 2026, the NUPRC has disclosed. Read More: https://punchng.com/refineries-received-127-million-barrels-of-crude-in-nine-months-nuprc/

US Central Command says more than 3,000 commercial vessels have transited the Strait of Hormuz with its support.

"Basically, your sales curve becomes like a roller coaster."