Goldman Sachs has warned that global oil prices could surge well above $100 per barrel if disruptions in the Strait of Hormuz persist, highlighting the fragility of energy markets amid escalating geopolitical tensions.

OPEC+ will create a new mechanism to evaluate the maximum oil production capacities of member countries, which will help determine base production levels for the 2027 OPEC+ agreement, according to a statement released after the latest ministerial meeting.