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(Bloomberg) — Iraq said it pumped below its OPEC+ oil-production quota last month as it sought to comply better with the group’s effort to balance global crude markets.

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Iraq

Financial Post

Iraq Says It Pumped Below OPEC+ Oil Production Quota Last Month

Kazakhstan has been one of the “bad” members of OPEC+, regularly producing more oil than expected under the bloc's production cap agreement. Now it appears that Kazakhstan has done it again, potentially increasing internal tensions within OPEC+.  Reuters reported this week that Kazakhstan's largest field, Tengiz, has hit record production levels since the start of the month. The publication cited unnamed sources for information that Tengiz's tot…

Kazakhstan

Vogon Today

OPEC's "Bad" Kazakhstan: greatly exceeds production quotas, annoying everyone a bit - Economic Scenarios

‘Venezuela can do more with the strength and energy that I saw with my own eyes today,’ he stated   In an interview with teleSUR on Monday, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC+), Haitham Al-Ghais, warned that “the world will need much more energy” by 2050, as an increase in energy demand is expected. RELATED:  Venezuela Starts Bilateral Agenda of Joint Work with the OPEC+ “One of the challenges we…

Caracas

Telesur

Venezuelan Oil Industry Has a Lot of Potential: OPEC+ Secretary Al-Ghais - teleSUR English

Summary Brent crude posts biggest weekly gains since Jan 2023 Israel conducts air attack on Beirut, Iran calls on allies to step up anti-Israel struggle Biden says he would consider alternatives to striking Iranian oilfields if he was in Israel’s shoes Oil analysts caution prices could stay elevated until Middle East conflict is resolved Spare ...

Israel

Energy News for the United States Oil & Gas Industry | EnergyNow.com

Oil Settles Up, Biggest Weekly Gains in Over a Year on Middle East War Risk - Energy News, Top Headlines, Commentaries, Features & Events

The crude oil market faces a critical juncture, driven by escalating geopolitical tensions in the Middle East and questions over global spare production capacity. Traders are caught between the potential for significant supply disruptions and the possibility that OPEC+ and other producers could step in to mitigate shortages. As conflict threatens key oil-producing regions, market participants are watching closely for signals of both price surges…

Riyadh

Oil Price

OPEC+ Spare Capacity Could Cushion Oil Markets

Oil surged as markets braced for the possibility that Israel could strike Iran’s energy industry, the latest potential escalation of a conflict that began almost one year ago when Hamas attacked Israel. Global benchmark Brent crude climbed near $77 after US President Joe Biden indicated Israel was weighing an attack on Iran’s oil infrastructure as a response to Iran’s missile attack on Israel, itself a response to Israel’s killing of leaders of …

Hezbollah

Oil and Gas Sector

Hamas

Investors King

Oil Prices Surge As Fears Of Israeli Strike On Iran Escalate

OPEC+ could soften the shock caused by the Iranian oil cut, but not the wider disruptions

Montenegro

vijesti.me

A wider conflict would cause oil prices to rise

MOSCOW, Oct 2 (Reuters) – Russian Deputy Prime Minister Alexander Novak said on Wednesday that oil prices have increased as markets do not rule out a decline in oil supply due to the conflict in the Middle East. In televised comments after a meeting of top OPEC+ ministers kept oil output policy unchanged, including a ...

Vladimir Putin

Artificial Intelligence

Russia's Novak Says Market Wary of Oil Supply Cuts Due to Middle East Conflict - Energy News, Top Headlines, Commentaries, Features & Events

Oil & Gas 360

CNBC

alborsaanews.com

Crude oil futures fell nearly 2% on Monday after OPEC cut its demand forecast for 2024 for the third time in a row. OPEC now sees demand growing by 1.9 million barrels per day in 2024, down from 2 million bpd in its previous forecast, according to a report released Monday. 

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The Epoch Times

Crude oil prices fall nearly 2% after OPEC cuts demand forecast again

(Reuters) –     Oil rose in early Asian trade on Wednesday on continued uncertainty over conflict in the Middle East, after falling as much as $5 this week to the lowest levels since early October on demand concerns. Brent crude oil futures rose 24 cents, or 0.3%, to $74.49 a barrel by 0054 GMT. U.S. West Texas Intermediate crude futures dropped 27 cents, or 0.4%, to $70.85 per barrel. Oil prices tumbled more than 4% to a near two-week low on Tu…

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Oil steadies after sharp falls as Middle East uncertainty persists

Oil production volume by OPEC+ countries without Libya, Iran and Venezuela exempted from performance of the agreement totaled 35.407 mln bpd

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Crude oil prices fall nearly 2% after OPEC cuts demand forecast again

Oil steadies after sharp falls as Middle East uncertainty persists

OPEC countries reduced oil production by 134,000 barrels daily in September

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