US and Iran Divided Over Proposed Nuclear and Shipping Deal as Oil Reserves Dip
The US and Iran are at odds over a proposed 60-day MoU on nuclear talks and shipping safety in the Strait of Hormuz, amid falling global oil inventories in May 2026.
Global Oil Market
Eight OPEC+ Members Extend Oil Output Cuts Through December
Eight OPEC+ member countries have agreed to extend their voluntary oil output cuts by one month, pushing reductions through December in response to ongoing weak oil prices.