OPEC+ plans quota increase as Middle East tensions ease

Could Iraq Quit OPEC if Production Quota Dispute Escalates?

Iraq is considering all available options, including a potential exit from OPEC, if the producer group does not significantly increase its oil production quota, according to sources familiar with Iraqi oil policy. The warning comes as Iraq faces mounting economic pressure following the Iran war and seeks to boost oil revenues to support its finances. [] The post Could Iraq Quit OPEC if Production Quota Dispute Escalates? appeared first on Modern Diplomacy.

Commodities: Oil Under Pressure Amid Rebound In Middle East Flows

Commodities: Oil Under Pressure Amid Rebound In Middle East Flows

Middle East tensions threaten to push oil prices beyond current range, Eni CEO says

Milan, July 11 (SANA) Continued tensions in the Middle East could push global oil prices beyond their current range of 80 to 100 per barrel by the first quarter of 2027, Eni CEO Claudio Descalzi said, warning that prolonged regional conflicts are increasing pressure on energy markets. Speaking to Reuters on Saturday, Descalzi said withdrawals []

JK Tyre plans additional 5%-6% price hikes by September-end

The hikes reflect pressure in the auto-parts sector due to an oil price rally linked to the West Asia conflict

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...

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...

Iraq urges Opec to raise its quota

Iraq urges Opec to raise its quota Iraq has urged Opec to increase its oil production quota considering the country's history of conflicts and the recent war that have damaged its industry, the oil ministry said Thursday. Like other oil producers, Iraq, a founding member of Opec, was greatly affected by the US-Israeli war on Iran, as it is hugely dependent on oil exports, which make up about 90 percent of its budget revenues. Iraq's oil ministry said that the country has consistently emphasised the importance of reassessing production baselines to ensure they are aligned with the sustainable production capacities of member countries, and in respect of Iraq's unique security and economic circumstances. Opec has responded by launching a process to reassess its members states' capacities, the ministry said.

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.

Iraq threatens to leave OPEC if oil quota isn’t raised: Report

Iraq, the second-biggest producer in OPEC, reportedly threatened to leave the cartel if the oil quota isn’t significantly raised. The threats came shortly after the United Arab Emirates left the organization last month, saying that it wanted to boost its oil output. Iraq’s already struggling economy has borne through months of crisis, and a senior []

Oil prices surge 4%, as U.S.-Iran tensions raise supply concerns

The growing Middle East tensions also affected global financial markets. The post Oil prices surge 4, as U.S.-Iran tensions raise supply concerns appeared first on BOL News.

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.

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.

Iraq denied information about country's withdrawal from OPEC — Oil Ministry

The Ministry of Oil pointed out that Baghdad constantly emphasizes the importance of revising production limits in accordance with the sustainable production capacities of member states

The Commodities Feed: Oil bounces on Persian Gulf re-escalation

ASIA/PACIFIC: Re-escalation in the Persian Gulf has reignited supply concerns, pushing oil prices higher amid questions about the direction of US-Iran peace talks

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.

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.

Minneapolis Fed's Neel Kashkari is now penciling in a rate hike this year

The policymaker cited broad inflationary pressures, including oil price disruptions tied to the Middle East conflict and AI data center buildout

Following the UAE’s Lead, Iraq Warns It Could Leave OPEC. Here’s What That Would Mean for Oil Stocks

Iraq wants to pump more oil in the future.

OPEC+ raises output as oil market enters new geopolitical era

The shifting tides of the global energy market have once again thrust OPEC+ into the spotlight, laying bare the delicate and often volatile intersection of geopolitics and oil economics. The group’s recent decision to boost oil production targets for August by 188,000 barrels per day is on the surface a standard regulatory tweak meant to stabilize a fluctuating market.

European Union: Oil Flows from Middle East Recovering

European Union: Oil Flows from Middle East Recovering

OPEC+ approves modest August production increase amid price slide

NEW YORK CITY, New York: Seven members of the OPEC+ alliance have agreed to modestly increase oil production in August, extending a series of monthly output hikes as crude prices continue to fall from highs reached during the recent conflict involving Iran. The Organization of the Petroleum Exporting Countries and its allies said on July 5 that Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman wou

India eyes further oil exploration after Iran war shortages

Hit by the biggest energy supply shock in decades during the Middle East war, import-dependent India is expanding domestic crude exploration, its oil minister says. India, the world’s third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the conflict between the United States and Iran. With a temporary US-Iran deal in place to pause hostilities, oil and gas shipments are flowing through...

Harga minyak mentah terus merosot, tekanan inflasi import mereda

PETALING JAYA: Harga minyak mentah terus menyusut susulan ketegangan yang semakin mereda di Lubnan dan Selat Hormuz, sekali gus mengurangkan tekanan inflasi import ke atas Malaysia. Hingga lewat petang semalam, harga minyak mentah Brent susut 0.61 peratus kepada AS80.08 (RM332.52) setong, manakala West Texas Intermediate (WTI) naik 0.37 peratus kepada AS76.04 (RM315.75) setong. Ketua Ahli ... Read more The post Harga minyak mentah terus merosot, tekanan inflasi import mereda appeared first on Utusan Malaysia.

Iraq seeks reassessment of OPEC production quotas

Iraq seeks reassessment of OPEC production quotas

JUST IN: 🇺🇸🇮🇷 IEA says US-Iran war restarting could trigger another global oil shortage.

JUST IN: IEA says US-Iran war restarting could trigger another global oil shortage.@BRICSNews

U.S.-Iran strikes ratchet up tensions as Tehran says Hormuz is shut

Control of the waterway — through which a fifth of the world’s crude oil and liquefied natural gas once moved — has been central to negotiations

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.

India explores oil exploration expansion after Iran war disruption

Left under a strain of the biggest energy supply shock in decades during the Middle East war, import-dependent India is now expanding domestic crude exploration, its oil minister s...

Transport operators feel squeeze as rising fuel costs spark calls for fare adjustments

NASSAU, BAHAMAS — Rising fuel prices linked to ongoing tensions in the Middle East are placing increasing pressure on public transportation operators, with taxi, bus and livery leaders warning that higher operating costs are making it more difficult for drivers to earn a living. Bahamas Unified Bus Drivers Union (BUBDU) President Rudolph Taylor said []

Iraq's Oil Ministry denies PM discussed OPEC exit

Iraq's Oil Ministry denies PM discussed OPEC exit

Could oil prices spike further? Inside the fragile US-Iran stance in the Gulf

Geopolitical tensions in the Middle East have escalated after attacks on commercial vessels. Iran's objective appears to be expanding its strategic influence over the Strait of Hormuz. Gulf nations are remaining cautious to avoid direct involvement in the confrontation. Crude oil prices are expected to remain elevated due to ongoing geopolitical risks. India, a major oil importer, faces increased vulnerability from these market developments.

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.

Seven OPEC+ countries agree to increase monthly oil production; here's the reason behind key decision

The OPEC+ alliance has decided to raise oil production once again, announcing a modest increase in output for August as global crude prices continue to decline following the easing of tensions in the Middle East. The move marks the fifth straight monthly production hike by the oil-producing bloc. The Organisation of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, said on Sunday that seven member countries would jointly increase production by 188,000 barrels per day next month.