oil prices
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Corporate consolidation and foreign buyers helped drive $38 billion in upstream deals in the first quarter of 2026. -
Expected to be commissioned in 2027, the new pipeline will double the UAE's current capacity of 1.8 million B/D of crude that can be transported beyond the contested waterway.
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Analysis from Wood Mackenzie warns that a prolonged closure of the critical waterway would have lasting effects on the global economy and Middle East supply capacity.
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The UAE will prioritize national interests and production flexibility, setting up implications for OPEC’s market power, oil, prices, and global supply dynamics.
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Operators aren’t rushing to drill, even as the closure of the Strait of Hormuz drives oil prices up.
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A Dallas Fed survey update suggests few executives foresee a strong US production response, even with oil prices above $90/bbl.
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Conflict‑driven price gains may be offset by higher costs, supply‑chain risks, and a limited appetite for new drilling activity.
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Enverus analysts say limited development opportunities and lower oil prices restrained deal activity outside North America for a second consecutive year.
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Members of the International Energy Agency said they would make available 400 million bbl from emergency reserves amid market disruptions.
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Drone strikes, refinery shutdowns, tanker disruptions, and halted LNG production have heightened concerns about broader supply risks.
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