OPEC & United States — White House

OPEC: OPEC oil output fell to its lowest level in over two decades in April due to disruptions linked to the Strait of Hormuz, indicating reduced supply.

United States — White House: The United States — White House is actively involved in negotiating a one-page memorandum of understanding with Iran to end the war and establish a framework for nuclear negotiations. Its actions directly influence the progress and terms of the potential deal.

OPEC: OPEC is negatively impacted by the United Arab Emirates' departure, which deals a blow to the cartel's unity and influence in managing global oil supplies.

United States — White House: The United States — White House is discussing Iran's proposal but maintains red lines on any deal, particularly regarding Iran's nuclear program.

OPEC: OPEC approved production increases, adding to supply and pressuring prices.

United States — White House: The United States — White House is the center of U.S. decision-making, with officials confirming calls and announcements.

OPEC: OPEC data used to measure supply losses, but group's influence limited.

United States — White House: The United States — White House requested $87.6 billion in supplemental funding, mostly for the Iran war, and faces congressional resistance.

OPEC: OPEC+ approved a quota increase, but its impact is limited due to export disruptions.

United States — White House: Declined to comment on Trump's threat to Oman.