OPEC+ adds 188,000 bpd to August quota amid cooling oil market

OPEC+ countries’ quota to increase by more than 1 mbd in July

In light of this, the oil production limit for OPEC+ states stands at 30.633 mbd in July, compared to 29.548 mbd in Jun

Commodities: Oil Under Pressure Amid Rebound In Middle East Flows

Commodities: Oil Under Pressure Amid Rebound In Middle East Flows

Pakistan hikes petroleum levy on petrol, diesel; keeps retail prices unchanged

Islamabad [Pakistan], June 28 (ANI): The Pakistan government on Saturday increased the petroleum levy on petrol and high-speed diesel (HSD) while leaving retail fuel prices unchanged for another week, despite a decline in international oil prices, The Express Tribune reported. According to The Express Tribune, citing figures released by Pakistan's Petroleum Division, the petroleum levy on high-speed diesel (HSD)

OPEC+ Ratifies Planned Oil Quota Hike as Gulf Flows Rebound

Major OPEC+ members agreed another modest increase to their collective oil-production quotas for next month, adding to the prospect of more supply eventually hitting the market if a US-Iran peace pact can stick.

Harga minyak minyak dijangka capai AS$65 setong menjelang Oktober

PETALING JAYA: Harga minyak mentah global dijangka terus berada dalam aliran menurun dan berpotensi mencecah AS65 (RM266.53) setong menjelang Oktober, berikutan jangkaan lebihan bekalan dalam pasaran susulan konflik Asia Barat yang mereda serta pembukaan semula Selat Hormuz. Penganalisis ekonomi, Prof. Emeritus Dr. Barjoyai Bardai berkata, penurunan harga minyak ketika ini lebih banyak didorong oleh faktor ... Read more The post Harga minyak minyak dijangka capai AS65 setong menjelang Oktober appeared first on Utusan Malaysia.

Inventory Replenishment Could Fuel The Next Major CrudeOil Bull Market

The global oil market may be entering a new phase where the primary price driver is not supply disruption, but the urgent need to rebuild depleted strategic and commercial inventories. Governments, refiners, and traders around the world face mounting pressure to replenish oil stocks that were drawn down during a period of sustained emergency releases [] The post Inventory Replenishment Could Fuel The Next Major CrudeOil Bull Market appeared first on Foreign Policy Journal.

OPEC+ Approves Fresh Oil Output Increase for August

The OPEC+ alliance agreed to increase oil production quotas once again, approving a collective output hike of 188,000 barrels per day (bpd) starting in August as the group continues its measured strategy of restoring supply to the global market.

कच्चा तेलको मूल्यमा ५% को उछाल

काठमाडौँ ।अमेरिकी राष्ट्रपति डोनाल्ड ट्रम्पले इरानसँगको युद्धविराम समाप्त भएको संकेत दिएपछि अन्तर्राष्ट्रिय बजारमा कच्चा तेलको मूल्य उल्लेख्य रूपमा बढेको छ। ट्रम्पको अभिव्यक्तिपछि ब्रेन्ट र डब्लूटीआई दुवै क्रुड तेलको मूल्य करिब ५ प्रतिशतले उकालो लागेको हो। अन्तर्राष्ट्रिय बजारमा ब्रेन्ट क्रुडको मूल्य ५.१० प्रतिशत अर्थात् ३.७८ अमेरिकी डलरले बढेर प्रतिब्यारेल ७७.९४ डलर पुगेको छ। त्यस्तै, डब्लूटीआई क्रुड []

OPEC+ to pump more oil as market fears shift from shortage to glut 

OPEC+ is opening the taps again, extending its production increases as Gulf oil flows recover and prices cool. But with supply rising faster than demand, fears of a global glut are mounting

World : OPEC+ Countries Produced Oil 7.5mln Bpd Below Target In June - IEA Report

MOSCOW, July 10 (Bernama-Sputnik/RIA Novosti) -- OPEC+ countries with voluntary restrictions increased oil production in June by 2.1 million barrels per day to 32.4 million barrels, and produced 7.5 million barrels per day below the quota level, the International Energy Agency (IEA) said in its fresh report on Friday, Sputnik/RIA Novosti reported.

Kuwait calls for coordination as oil output hiked

BERLIN: Seven OPEC+ members decided on Sunday to again raise oil production quotas amid the fallout from the Middle East war. Ministers from key OPEC+ countries Saudi Arabia, Russi...

Oil prices firm as US-Iran clashes disrupt key shipping lane

Crude prices edge higher as geopolitical risks disrupt Middle East supply routes. The post Oil prices firm as US-Iran clashes disrupt key shipping lane appeared first on BOL News.

Oil prices hover near pre-conflict levels as OPEC+ boosts output again

OPEC+ approved a new production increase for August as recovering crude supplies and easing geopolitical concerns kept oil prices near pre-conflict levels.

OPEC+ Approves 188,000 bbl/d Output Increase for August 2026

Seven core members of OPEC+ have agreed to implement a crude oil production adjustment of 188,000 barrels per day (bbl/d) for August 2026, according to a release by the Organization of the Petroleum Exporting Countries (OPEC). OPEC+ is an alliance between the core OPEC and a broader group of non-OPEC oil-exporting countries. The decision follows [] The post OPEC+ Approves 188,000 bbl/d Output Increase for August 2026 first appeared on Egypt Oil Gas.

Are oil markets too optimistic?

The economics of reopening a chokepoint that handles a fifth of the world's oil and overseas gas supply may prove more difficult than market prices suggest.

Nigeria meets 104% of OPEC quota as crude oil production hits 74-month high

According to the NUPRC, the improved operational environment increased production uptime and enhanced the efficiency of crude oil evacuation. The post Nigeria meets 104 of OPEC quota as crude oil production hits 74-month high appeared first on Vanguard News.

Oil edges lower, but heads for weekly gain as West Asia supply risks persist

Concerns that ‌accelerating inflation could soften oil demand weighed on the ​market and pressured prices

Oil prices gain as focus shifts to supply recovery, demand

Oil prices gain as focus shifts to supply recovery, demand

The Commodities Feed: The battle of Hormuz lifts oil prices

Further escalation in the Persian Gulf has oil prices moving higher amid renewed concerns over flows through the Strait of Hormuz

Current price of oil as of July 7, 2026

As of 9 a.m. Eastern Time today, oil is trading at 73.29 per barrel, based on the Brent benchmark we’ll explain in a bit. That’s 93 cents above yesterday morning’s level and about 2.80 higher than where it stood a year ago. Oil price per barrel Change Price of oil yesterday 72.36 +1.28 Price []

‘Sale of fuel in order', claims NOC

Kathmandu, July 1: Nepal Oil Corporation has claimed that the problem seen in the sale and distribution of petroleum pro...

OPEC+ agrees fresh oil output increase as crude prices continue to fall

The OPEC+ alliance has agreed to increase oil production again next month, marking its fifth consecutive monthly supply increase as crude prices continue to retreat from the highs triggered by the recent conflict involving the United States, Israel and Iran.

OPEC+ companies slightly boosting production as oil prices slide

A group of oil-exporting countries has agreed to a modest increase in oil production, though current prices are already relatively low. Seven OPEC+ nations have said they will increase their production goals by 188,000 barrels per day. The participating countries are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. Multiple nations in the Middle...

OPEC+ agrees to higher oil production ‘to support oil market stability’

After the Iran war choked off about a fifth of the world's oil supply for several months, the world's largest alliance of oil-producing nations agreed to increase its quota.

Oil Prices Make a Stunning Retreat to Prewar Levels. Where Do We Go From Here?

While a surge of tankers have exited the Strait of Hormuz, the market is expected to tighten again.

OPEC+ reportedly expected to approve another oil output increase for August

OPEC+ reportedly expected to approve another oil output increase for August

OPEC+ boosts oil production as Gulf exports recover

Seven OPEC+ producers have agreed to increase oil production from August, signalling confidence that Gulf exports are recovering after months of disruption caused by the Middle East conflict. The move comes as shipping through the Strait of Hormuz gradually returns to normal.

OPEC+ agrees to raise oil output targets for August

London, July 5 (SANA) OPEC+ agreed on Sunday to increase crude oil production targets for August, according to a statement issued after a meeting of the alliance. The group agreed to raise production quotas by 188,000 barrels per day (bpd) in August, continuing a series of increases approved for June and July. Seven key OPEC+ []

UK business growth slides to 14-month low as service sector shrinks

It also came as firms continued to increase prices in reaction to cost pressures from the Middle East conflict and government policy.

Oil slips after OPEC+ agrees to raise output targets

Oil prices dipped as OPEC+ agreed to boost output from August, with key producers seeing recovering exports via the Strait of Hormuz. Despite the planned increase, actual output may be capped due to ongoing geopolitical tensions. Gulf oil exports are reviving but still lag pre-conflict levels, while Russia's crude shipments surged due to refinery damage.

World weathers historic oil shock, but depleted reserves bring risks

The world has coped unexpectedly well with the disappearance of over a billion barrels of oil since the start of the Iran war, yet the risk of sharp price increases still hangs as...