How AI sees humanity: where are we heading, and are we doing it well?
OPEC+ crude production rose in October, led by a sharp Saudi increase, to near the levels seen before the Iran war began in February, despite continued disruption to shipping through the Strait of Hormuz.
Saudi state media, citing an Energy Ministry official, reported that the East-West oil pipeline was targeted in the Medina region on 9 November 2026, causing a fire. The reports do not say who carried out the attack.
Brent crude oil prices declined on 9 November 2026, according to Turkey's Anadolu Agency and Russia's TASS, which gave only headline-level details and different figures.
Oil prices fell sharply on 2 November 2026, and the Wall Street Journal, Anadolu Agency and Reuters each attributed the drop to renewed US-Iran diplomatic efforts easing concerns over Middle East supply.
US President Donald Trump publicly suggested Venezuela could one day become a US state, and according to The Guardian he made the remark at a Texas rally where he promoted an oil agreement with Venezuela's US-backed interim government.
Oil prices fell on Monday, 26 October 2026, as markets weighed U.S.-Iran diplomatic efforts against ongoing attacks on Saudi Arabia, and the reports differ on whether supply concerns eased.
Brent crude rose to its highest level in at least several months on 23 October 2026 amid market fears of renewed US strikes on Iran, while reports differ on how long it has been since prices were this high.
Reuters and the South China Morning Post report that US President Donald Trump has designated petroleum production and refining as essential to national defense, a step they say could open US funding for fossil fuel projects.
Oil prices rose on 22 October 2026 as the Wall Street Journal and Reuters linked the move to further attacks in Saudi Arabia and fears for Middle East oil supplies.
Iran's Revolutionary Guards say two tankers caught fire after striking naval mines in the Strait of Hormuz, but the reports reviewed by Vocemundi include no independent confirmation of the incident.
Two commercial ships have sunk near the Strait of Hormuz; Iran's Revolutionary Guard says one hit a naval mine, while UK maritime monitors suggested both were struck by projectiles.
A statement attributed to OPEC and allied producers says the cost of shipping and insuring oil has passed one-third of the commodity's value, according to TASS and Reuters, though the figure has not been independently verified.
OPEC's Secretary General put 2026 oil demand growth at 400,000 barrels per day, which Reuters reports is a downward revision from the 1.4 million bpd forecast at the start of the year.
Iran's Revolutionary Guards said they hit a supertanker crossing the Strait of Hormuz on 12 October 2026, as an Iranian official named a US-assisted Gulf oil shuttle system as a target.
Oil prices rose on Thursday over concerns about Middle East supply as attacks on shipping in the Gulf and the Strait of Hormuz increased, according to Al Jazeera and Reuters, while US Treasury yields reached 24-year highs, according to Al Jazeera.
Shell expects record refining margins for July to September 2026, a rise The Guardian and Reuters link to fuel supply disruption from the Middle East conflict.
Two separate outlets, including Turkey's state-run Anadolu Agency, reported ongoing shipping risks around the Strait of Hormuz on 6 October 2026, while the Wall Street Journal reported a drop of more than 2% in Brent futures.
Reuters and Anadolu Agency both report that Tokyo does not plan a fresh release of oil from its reserves, though they attribute the statement to different officials.
Iranian state media reported on Sunday that Oil Minister Mohsen Paknejad has resigned and that Hamid Bovard, head of the National Iranian Oil Company, will lead the ministry as acting minister; no reason was given.
Two news agencies report that OPEC+ countries are holding their November oil production plan steady, but the reports reviewed by Vocemundi include no official statement and differ on the status and scope of the decision.