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OPEC+ boosts oil production after attacks on Iran and throughout region

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OPEC+ boosts oil production after attacks on Iran and throughout region
Eight countries that are part of the OPEC+ oil cartel announced Sunday they will boost production of crude as U.S. and Israeli forces launched a major attack on Iran and the country responded with retaliatory strikes against Israel and U.S. military installations around the Gulf, disrupting oil shipments from the region.

The Organization of Petroleum Exporting Countries, in a Sunday meeting planned before the war began, said it would increase production by 206,000 barrels per day in April, which was more than analysts had been expecting. The countries boosting output include Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman.

Attacks throughout the region, including on two vessels traveling through the Strait of Hormuz, the narrow mouth of the Persian Gulf, could restrict countries’ ability to export oil to the rest of the world. That would will likely result in higher prices for crude oil and gasoline, according to energy experts.

Roughly 15 million barrels of crude oil per day – about 20% of the world’s oil – are shipped through the Strait of Hormuz, making it the world’s most critical oil chokepoint, according to Rystad Energy. Tankers traveling through the strait, which is bordered in the north by Iran, carry oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the UAE and Iran.

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Iran had temporarily shut down parts of the strait in mid-February for what it said was a military drill. Further disruptions to that shipping channel could lead to lower supply and higher prices for oil.


“Roughly one-fifth of global oil supply passes through the Strait of Hormuz, a vital artery for world trade, meaning markets are more concerned with whether barrels can move than with spare capacity on paper,” said Jorge Leon, Rystad’s senior vice president and head of geopolitical analysis, in an email. “If flows through the Gulf are constrained, additional production will provide limited immediate relief, making access to export routes far more important than headline output targets.”
Iran exports roughly 1.6 million barrels of oil a day, mostly to China, which may need to look elsewhere for supply if Iran’s exports are disrupted, another factor that could increase energy prices. Energy experts believe oil prices could shoot higher when barrels begin trading late Sunday. Analysts at Rystad anticipate the price of a barrel of Brent crude, the international standard, could increase by $20 when trading opens.

A barrel of Brent crude closed at a seven-month high of $72.87 on Friday.

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Australia stocks higher at close of trade; S&P/ASX 200 up 0.03%

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Australia stocks higher at close of trade; S&P/ASX 200 up 0.03%

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India manufacturing growth hits four-month high in February, PMI shows

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India manufacturing growth hits four-month high in February, PMI shows


India manufacturing growth hits four-month high in February, PMI shows

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Savills appointed to Swindon Designer Outlet

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The major retail location was recently acquired by Frasers Group

Swindon Designer Outlet.

Swindon Designer Outlet

Savills has been appointed by Frasers Group to provide property management services to Swindon Designer Outlet. The retail scheme, which extends to 250,000 sq ft and comprises of 110 units, is located in the historic Great Western Railway buildings in the centre of Swindon.

The retail destination has experienced a sustained rise in footfall, turnover and average spend, supported by the arrival of new brands such as Rituals and Crocs. This has been alongside reinvestment from long standing tenants. which include Polo Ralph Lauren, Reiss, Tommy Hilfiger, New Balance and Nike.

Its recent acquisition by Frasers Group represents a significant addition to its growing retail portfolio and reflects continued confidence in the performance and potential of the outlet sector.

READ MORE: Premier League and FA-backed Exeter playing fields project gets under wayREAD MORE: Helicopter maker Leonardo ‘hopeful’ about future of Somerset factory

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Savills will provide property management and operational support across the scheme, ensuring the smooth running of a destination with complex heritage considerations and a diverse occupier mix

Saagar Sachdev, director, London retail and leisure, property management at Savills, said, “Designer Outlet Swindon is a well-established destination with a strong track record and a unique setting.

“Alongside its offering of leading global brands, there is a commitment to fostering a vibrant local community through initiatives such as a weekly street food market and the ‘Makers Yard’ craft market.

Joining an established and expanding group of outlet centres under Savills management, this appointment reflects our depth of sector expertise, from working closely with occupiers to maintaining an environment that meets the expectations of both brands and visitors.

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“It also further strengthens our specialist expertise in the outlet sector, enabling us to add value through operational enhancements, brand curation and long term asset stewardship.”

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Private sector investment essential for Bristol to meet its net zero climate goals, council chiefs say

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Official says ‘there isn’t enough public sector money to achieve decarbonisation of cities’

Old Market Gap bike lane

The Old Market Gap bike lane(Image: Local Democracy Reporting Service)

A lack of cash is jeopardising Bristol’s net zero climate goals and millions of pounds are needed from the private sector. Bristol has slashed how much greenhouse gas is emitted locally in the past two decades, but there is not enough public funding to reach net zero emissions.

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Bristol City Council has published a long list of 90 actions in the push to reach net zero. But many of these rely on uncertain funding from the government, companies or investors. One big ticket item was recently removed as the West of England Combined Authority withdrew support.

Blocking through-traffic on Park Street was expected to drive up the number of people taking the bus, walking or cycling. But the West of England chose not to pay for it, so the scheme won’t go ahead – an example illustrating the precarious nature of lots of climate actions. An update on the net zero plan was given to the environment policy committee on Thursday, February 26.

Green Cllr Martin Fodor, chair of the environment committee, said: “It’s important to demonstrate to our partners that we’re taking this seriously, playing our part, and we’re looking for those partnerships and funders. I’m really impressed with the amount of funding that’s been brought in – locally, nationally, European and internationally – that has helped contribute to actions here.

“We’re still looking, so that we can do all the things that are in the action plan.”

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So far the action plan has included replacing 36,000 street lights with efficient LEDs, saving over £1 million a year in energy bills; installing better insulation in buildings making them cheaper to heat; replacing diesel vans with electric vehicles, which also reduces air pollution; and training council staff on topics such as how to reduce climate-warming greenhouse gas emissions.

New bike paths and bus lanes have helped encourage more people to cycle or take public transport instead of driving cars. And the landmark City Leap deal was signed between the council, Ameresco and Vattenfall, paving the way for hundreds of millions of pounds investment into generating renewable energy and expanding the district heat networks, among other work.

However much Bristol does reduce its greenhouse gas emissions, the climate is still forecast to warm up over the coming years, bringing extreme heatwaves, storms and floods. Work has begun on an analysis called the Keep Bristol Cool framework, which explores how to protect Bristolians from the effects of much hotter summers, including planting trees for better shade.

One way the council has tried to overcome the lack of cash is by getting locals to invest in its climate action plan. More than £2 million has been raised already via an innovative scheme, where the council sells bonds to investors. The money helps pay for measures to cut carbon emissions, while also providing a better return than standard savings accounts.

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Alex Ivory, the council’s climate change team manager, said: “Everybody in this sector realises there isn’t enough public sector money to achieve decarbonisation of cities. A large amount of it will have to come from the private sector.”

Transport emits the most greenhouse gases in Bristol, Government figures show

Transport emits the most greenhouse gases in Bristol, these Government figures show(Image: Local Democracy Reporting Service)

Cllr Fodor added: “We’re seen as one of the places that has really demonstrated how to have a whole spectrum of funding of different scales, from the million odd through the hundred million potentially. That’s really good news. It’s not enough yet, but it’s a good start.”

Getting the private sector to pay for projects raises a question about a lack of scrutiny. Labour has been trying to get an update to the environment committee on how the City Leap deal is going so far, as much of Bristol’s planned climate actions will be delivered by this project. But Cllr Fodor declined a request to bring a scrutiny paper to the committee.

Labour Cllr Kye Dudd, a former cabinet member who was instrumental in the City Leap deal, said: “I’ve been asking for a general scrutiny paper on how well that’s doing, probably for about a year now. It’s a 20-year project and a lot of money. This committee needs to be having regular updates, and we’ve not had one in the last two years. I think that’s a bit disappointing.”

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Cllr Fodor replied that the committee would monitor the individual projects in City Leap. He added that its performance is the responsibility of the strategy and resources policy committee, rather than the environment committee.

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Asian airline stocks fall on Iran tensions, surging oil prices

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Asian airline stocks fall on Iran tensions, surging oil prices

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Lenovo Unveils ‘AI Workmate Concept’ Meant to Help You with Productivity, Workload, and More

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Lenovo AI Workmate Concept

Lenovo has unveiled the new “AI Workmate Concept” during their presentation at the Mobile World Congress (MWC) 2026. This new concept is a robot-like desk companion that aims to help users with their work and more.

The new robot-like desk companion can hear voice commands, scan documents, interact with users, and more, making it a notable desk buddy for different kinds of needs, mainly focused on productivity.

Lenovo ‘AI Workmate Concept’ Unveiled at MWC 2026

Lenovo’s new AI Workmate Concept turned heads over at MWC 2026 as the company touched on robotics in this latest tech, as well as expanded on its generative artificial intelligence developments.

Combining the two, the company came up with a robot-like desk buddy that is capable of helping out and boosting one’s workflow.

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The AI Workmate Concept is a proof-of-concept development from Lenovo, focusing on translating human actions into “digital outcomes through natural interaction.” According to Lenovo, it is an “always-on desk companion” that offers support for gesture, spatial, voice, and writing interactions via its on-device AI.

The proof-of-concept robot has eyes via its LCD, and it is meant to be set on one’s desk. Additionally, it can also beam content to a desk or wall using its projection capabilities.

Lenovo’s Productivity and Workload Desk Buddy

Lenovo’s AI Workmate Concept is supposed to be a desk buddy, but it is also recommended to have a wall or empty desk nearby so it can project content.

The new proof-of-concept is the latest addition to the massive developments from Lenovo, which were unveiled during CES 2026, including the Lenovo Qira AI ecosystem for its consumer tech devices.

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Users may ask the AI-powered desk companion for help on “scanning and summarizing documents, organizing notes, and assisting in the creation of presentations and other work content.”

The company calls this desk companion an exploration of physical and spatial AI. It seems Lenovo is now looking to enter the professional ecosystem meant to assist in productivity and work.

Originally published on Tech Times

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Why Gas Prices Could Be Headed Higher After U.S. Attack on Iran

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Why Gas Prices Could Be Headed Higher After U.S. Attack on Iran

Why Gas Prices Could Be Headed Higher After U.S. Attack on Iran

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Argentina’s Milei says to pursue lower taxes and electoral system reform

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Argentina’s Milei says to pursue lower taxes and electoral system reform


Argentina’s Milei says to pursue lower taxes and electoral system reform

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Pentagon tells Congress no sign that Iran was going to attack US first, sources say

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Pentagon tells Congress no sign that Iran was going to attack US first, sources say


Pentagon tells Congress no sign that Iran was going to attack US first, sources say

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Israel strikes Lebanon following Hezbollah attacks, widening Iran conflict

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Israel strikes Lebanon following Hezbollah attacks, widening Iran conflict


Israel strikes Lebanon following Hezbollah attacks, widening Iran conflict

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