OPEC+ Raises a Quota Nobody Can Fill, Then Warns the Oil Will Be Slow to Return
OPEC+ raised production quotas by 206,000 barrels per day on Sunday, a gesture as meaningful as raising the speed limit on a road that is closed.
Economy
A French Ship Crossed the Strait of Hormuz. It Paid Iran Two Million Dollars. In Yuan.
The CMA CGM Kribi became the first European vessel to transit Hormuz in a month -- paying Iran a toll in yuan, proving the blockade has evolved from military closure to revenue-generating chokepoint.
Five Hundred Petrol Stations Dry Across Australia as Government Tells Easter Travelers to Carry On
The Australian government's message to citizens heading out for Easter weekend is to keep driving -- past the 500 stations that have no fuel to sell them.
The Oil Crisis Is Now an Everything Crisis, and April Will Be Worse
CNN's rebranding of the oil shock as an 'everything crisis' is not hyperbole -- J.P. Morgan's models show the real supply squeeze has not yet arrived.
Iran Strikes Bahrain's BAPCO Refinery Again, Igniting a Storage Tank on Sitra Island
A drone attack on Sunday ignited a major oil storage tank at the BAPCO facility on Sitra Island -- the same refinery already under force majeure since March 9.
Home Sellers Outnumber Buyers by 630,000 and Spring Is Already Frozen
The widest seller-buyer gap ever recorded means the spring housing market is arriving dead on arrival, with more than half of all listings going stale.
More Than Sixty Percent of Cuba Has No Electricity and the Grid Cannot Recover
Cuba's power grid has collapsed so thoroughly that the majority of the island now endures 18-hour daily blackouts, and the machinery to fix it does not exist on the island.
Pakistan Raises Fuel Prices by Forty-Three Percent in Largest Single Increase on Record
Pakistan raised petrol to 458 rupees per liter overnight -- a 43 percent jump -- because the Hormuz crisis left a country that imports 90 percent of its fuel with no room to absorb the shock.
Kenya Has Sixteen Days of Petrol Left and a Shipment That Buys Time
Kenya's fuel reserves have dwindled to 16 days of petrol and 19 days of diesel, but a 290,000 metric ton shipment arriving in April may prevent the worst.
The Philippines Has Enough Oil to Last Until June. Then What?
Manila declared a national energy emergency under Executive Order 110, with crude supplies lasting only until June 30 and coal now filling the gap left by vanishing LNG.
The Iran Oil Sanctions Waiver Expires in Two Weeks. The Tankers Are Still Circling.
With 14 days left on the 30-day waiver, an India-bound Iranian tanker diverted to China, India denied payment problems, and most of the 95 million barrels at sea remain unsold.
Mexico's Truckers and Farmers Will Try to Paralyze the Country Tomorrow
ANTAC and the National Front for the Rescue of the Mexican Countryside confirmed a national strike for Monday, April 6, targeting highways, customs offices, and border crossings across Mexico.