Scottish curler and Olympic champion
The Strait of Hormuz could see a formal system to charge ships for passage as countries near the waterway explore governance changes after a war that disrupted oil flows. Oman is signaling flexibility on fees while stressing any scheme will align with international law, and Washington remains opposed to tolls.
OPEC+ has agreed to increase oil output by 188,000 barrels per day from August, marking the fifth straight monthly rise. While the move signals a cautious unwind of earlier cuts, oil supplies remain constrained by the Strait of Hormuz and ongoing regional tensions. Prices have edged back toward pre-war levels as shipping resumes.
OPEC+ has decided to increase output by 188,000 barrels per day from September 2026, a move designed to stabilise markets and compensate for past overproduction. Nigeria remains under its DoC allocation and will not see changes to its targets as it seeks to raise crude output. The group will meet again on Sept. 6 to review conditions and consider further adjustments.
OPEC+ has kept October output targets unchanged while it reviews capacity and sets 2027 baselines, amid Iran disruption and discussions on unwinding current cuts. The group plans to pause further increases in Q4 as it evaluates members' capacity and future quotas.
Britain’s leadership is framing a growth-and-devolution agenda ahead of the October budget, with business leaders and economists warning that higher energy costs and borrowing rates could constrain options. The government emphasizes a partner-for-growth approach, pledging to empower local leaders and reduce business costs while navigating a tighter fiscal path.
Qatar has established Doha Investment to manage its local portfolio, consolidating 45 state-owned enterprises to bolster national champions and diversify away from hydrocarbons amid regional tensions and supply disruptions.
Oil prices have fallen after data showed Asia is set to import its highest monthly crude volume since the US–Iran war began, while traders continue to monitor UN‑level diplomacy and regional tensions. Brent has slipped near $102 a barrel and U.S. crude is trading in the low $90s as markets weigh rising Asian flows against Middle East risks.
Saudi Arabia has faced an intensified campaign of drone and missile attacks by Yemen’s Iran-aligned Houthis since July, and the Mecca Joint Defence Agreement signed in August has prompted Pakistan and Turkiye to discuss defensive support. Britain has approved time-limited refuelling for Saudi jets and the three allies are meeting to decide collective steps as attacks continue.
Crude flows through the Strait of Hormuz are recovering toward pre-war levels, but tankers face higher fees amid ongoing threats. Kuwait has cut production amid tensions, while shipowners push for more naval escorts as the waterway remains volatile.