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oil production

Cars queue at a gas station in Indonesia as the closure of the Strait of Hormuz prompted Indonesia to consider a weekly work-from-home policy to cut fuel use, in Yogyakarta on March 28, 2026. (Devi Rahman/AFP)
March 29, 2026, 8:38 am
As Iran war grinds on, rising toll on global economy has many worried about recovery
‘Largest supply disruption in the history of the global oil market’ forces countries to impose energy restrictions and is likely to increase food prices in poorer regions
By PAUL WISEMAN
Clothes clips covered in soot from burned fuel are seen as smoke from a strike on an oil facility lingers in the cloudy sky over Tehran, Iran, March 8, 2026. (AP Photo/Vahid Salemi)
March 8, 2026, 12:24 pm
Black clouds over Tehran rain down oil drops after Israel strikes oil facilities
IDF says fuel depots served Iran’s military infrastructure, as Iranian Red Crescent warns that contaminated precipitation ‘is extremely dangerous’
By Agencies and Emanuel Fabian
Iran's Oil Minister Javad Owji attends the opening session of the 24th ministerial meeting of the Gas Exporting Countries Forum (GECF), in Cairo on October 25, 2022. (Khaled DESOUKI / AFP)
March 17, 2024, 7:14 pm
Iran signs big contracts with domestic oil companies amid sanctions
Oil minister says Tehran aims to add 350,000 barrels per day of oil production by end of Persian year with new deals
By AFP
The drilling ship Tungsten Explorer is seen off the coast of Dbayeh, north of Beirut, Lebanon, on May 15, 2020. (AP Photo/Bilal Hussein, File)
August 16, 2023, 2:35 pm
After deal with Israel, offshore rig arrives in Lebanese waters to drill for gas
‘We hope that Lebanon will become an oil state,’ says Beirut’s energy minister, as country looks to potential fruit of border agreement with Israel to get it out of its deep crisis
By AP and ToI Staff
A photographer takes pictures of the Khurais oil field during a tour for journalists, 150 km east-northeast of Riyadh, Saudi Arabia, June 28, 2021. (AP/Amr Nabil)
June 5, 2023, 5:15 am
Saudi Arabia to sharply slash oil output in bid to pump up prices
In surprise move, OPEC+ decides to cut supply from Riyadh by a million barrels per day in hopes of sending gas prices soaring again after 10% drop since April
By KIYOKO METZLER
US President Joe Biden speaks about energy and the Strategic Petroleum Reserve during an event at the White House, Oct. 19, 2022, in Washington. (AP Photo/Evan Vucci)
October 19, 2022, 10:25 pm
‘Families are hurting’: Biden says US should boost domestic oil production
President calls on companies to produce more fuel and lower prices, announces new release from US reserves as midterm elections approach
By AFP
US President Joe Biden (left) and Saudi Crown Prince Mohammed bin Salman. (Collage/AP)
October 16, 2022, 7:35 pm
US official: Biden has ‘no plans’ to meet Saudi’s bin Salman at G20 summit    
Stormy US-Saudi relations further strained over Riyadh’s recent support for oil production cuts, with Biden warning of unspecified ‘consequences’
By AFP
Sen. Robert Menendez, D-NJ, speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act on Capitol Hill, September 28, 2021, in Washington. (Kevin Dietsch/Pool via AP)
October 11, 2022, 6:57 am
Top Democrat urges halt to Saudi weapons sales after decision to cut oil production
Sen. Bob Menendez says Riyadh ‘underwriting’ Russia’s war in Ukraine after Saudis and other oil producers took decision aimed at boosting crude prices
By AFP
Illustrative photograph of drilling oil on land. (bashta, iStock at Getty Images)
October 5, 2021, 10:54 pm
In Arava desert, some seek to stymie a last-gasp search for oil under their feet
Two firms set to begin exploring for fossil fuels in southern Israel, but residents fear seismic surveys could scar landscape and worse could be in offing should drilling progress
By Sue Surkes
The Centenario deep-water drilling platform stands off the coast of Veracruz, Mexico, in the Gulf of Mexico, November 22, 2013. (AP/Dario Lopez-Mills)
April 13, 2020, 2:35 am
OPEC, oil nations agree to nearly 10m. barrel cut amid pandemic, price war
Leading suppliers to drop global crude output by 10% to boost cratering demand as Saudi-Russia feud, coronavirus batter markets
By Jon Gambrell
In this June 8, 2011 file photo, sun sets behind an oil pump in the desert oil fields of Sakhir, Bahrain (AP Photo/Hasan Jamali, File)
January 6, 2020, 3:10 pm
Oil price keeps rising as industry drilled by Iran-US conflict
Some experts counter that effect of Mideast geopolitical crisis on oil prices may be smaller than it once was as US energy industry, for instance, can ramp up shale oil production
By Matt O'Brien
This photo from September 15, 2019, shows storage tanks at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia. (AP Photo/Amr Nabil, File)
December 11, 2019, 12:14 pm
Saudi Aramco starts trading, instantly becomes world’s most-valued at $1.8t
Some 5 million Saudis, or one-quarter of the country’s citizens, drop $13b to buy the 1.5% of the kingdom’s crown jewel put up for sale on Wednesday
By Aya Batrawy
The USS Boxer transits the Strait of Hormuz, August 12, 2019. (US Navy photo by Mass Communication Specialist 2nd Class David Ortiz/Released)
November 7, 2019, 11:49 pm
US-led coalition launches operation to protect Gulf waters
Naval effort aims to protect shipping in the troubled Strait of Hormuz after a string of attacks blamed on Iran
By AFP
Russian President Vladimir Putin attends a session of the 2019 Russian Energy Week forum in Moscow, on October 2, 2019. (Aleksey Nikolskyi / Sputnik / AFP)
October 2, 2019, 6:06 pm
Putin says no evidence Iran behind attack on Saudi oil facilities
Russian leader says US has not produced proof of Tehran’s link to September strikes that rattled global energy markets
By ToI Staff and Agencies
Britain's Prime Minister Boris Johnson delivers a statement outside 10 Downing Street in central London on September 2, 2019 (Ben STANSALL / AFP)
September 23, 2019, 10:12 am
Boris Johnson says Iran responsible for attack on Saudi oil facilities
British premier considering taking part in US-led military effort to bolster Gulf kingdom’s security even as he promises to help ‘deescalate’ tensions in the region
By Jill Lawless
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