Kuwait’s crude oil production averaged 1.971 million barrels per day (bpd) in July 2026, up from about 1.65 million bpd in June, according to a source familiar with the matter. This brings output close to the 2 million bpd level and marks continued recovery after severe disruptions earlier in the year. The rebound follows the […]
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The fragile truce between the United States and Iran is unraveling. Renewed attacks on commercial shipping in the Strait of Hormuz, fresh U.S. strikes on Iranian targets, satellite evidence of Iran rebuilding damaged nuclear sites, and mixed signals from Washington and Tehran have once again put global energy markets on edge. The central question for […]
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As tensions flare once again around the Strait of Hormuz—with recent incidents including a vessel struck off Oman’s coast and Iranian Revolutionary Guard warnings—Gulf oil producers are racing to secure alternative export routes. While the strait has historically carried nearly 20% of global seaborne oil trade, Iraq is moving decisively to reduce its vulnerability through […]
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Iraq’s Basra Oil Company has directed operators at the giant West Qurna/2 oilfield to suspend pumping operations entirely and slash output to just 50,000 barrels per day (bpd), effective midnight on June 23. The move comes under an ongoing force majeure declaration, explicitly citing the continued absence of available tankers to lift the crude. This […]
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OPEC released its 20th edition of the World Oil Outlook (WOO 2026) on June 18, 2026, delivering a comprehensive, data-driven assessment of global energy trends through 2050. The report projects continued strong growth in global oil demand, reaching 124.1 million barrels per day (mb/d) by mid-century — an increase of approximately 19 mb/d from 2025 […]
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US physical crude prices are easing as the wartime risk premium fades and Middle Eastern barrels prepare to return to global markets. The shift comes amid clear signs of de-escalation in the US-Iran conflict, including the passage of Iranian tankers past the US naval blockade today and the resumption of flows through the Strait of […]
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The recent U.S.-Iran Memorandum of Understanding (MOU) has triggered a wave of optimism in oil markets. Traders are pricing in a swift reopening of the Strait of Hormuz, a rapid normalization of supply chains, and a return to lower pre-crisis price levels. Brent crude has already dropped toward $83–$84 per barrel, with WTI near $80–$81, […]
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In a major escalation of the ongoing U.S.-Iran conflict, President Donald Trump has signaled that U.S. forces will strike Iran “VERY HARD TONIGHT” and, in the near future, take control of Iran’s critical oil infrastructure, including Kharg Island. This development draws direct parallels to the administration’s approach in Venezuela and aligns with commentary from energy […]
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In a significant sign that Gulf crude is once again finding its way to market, Kuwait is offering at least 4 million barrels of its main export-grade crude to Asian refiners—the first such sales to the region since the Iran war erupted in late February 2026. The volumes are loaded onto two very large crude […]
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The global order of the energy industry is shifting and where the Permian Basin will fit in is an intriguing question. It will of course be very important, but in what relation to Russia, Saudi Arabia and the other members of OPEC and OPEC-Plus? How will Europe and Asia factor in with their massive and […]
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