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A senior executive at the UAE National Oil Company said that since the outbreak of the war with Iran, cargo insurance costs have now reached 5-6% of the value of the goods.

2026-09-09

A senior executive at the UAE National Oil Company said that since the outbreak of the war with Iran, cargo insurance costs have now reached 5-6% of the value of the goods.

Other News
2026-09-09

BP's North Sea assets have attracted interest from multiple buyers, including Adura and Neo Next+, sources said.

BP's North Sea assets have attracted interest from multiple buyers, including Adura and Neo Next+, sources said.
2026-09-09

Iraq is seeking a substantial increase in its OPEC+ production quota during the group's capacity review, targeting a 6.0 mln bpd baseline — a marked rise from its recent output levels, according to people familiar with the matter. Iraq hinted in June

Iraq is seeking a substantial increase in its OPEC+ production quota during the group's capacity review, targeting a 6.0 mln bpd baseline — a marked rise from its recent output levels, according to people familiar with the matter. Iraq hinted in June it could quit OPEC if it is not granted a sufficiently high baseline; such an exit would be a major blow to the group after the UAE’s departure. OPEC+ has commissioned external advisers to assess each member's maximum achievable capacity; the review is due to be completed at the end of this month and is expected to be approved at the Nov. oil ministers' meeting. Venezuela is also closely watching the situation and is considering an exit as it negotiates a major deal with Trump that would give the US substantial control over part of its oil reserves.
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