(World Oil) – Saudi Arabia reported to OPEC that it increased crude oil production by just over 1 million barrels a day (MMbpd) last month, a reflection of the recovery among Persian Gulf producers during a brief ceasefire in the Iran war. The kingdom told the group it pumped 8.2 MMbpd of crude in July, up from 7.1 MMbpd in the
(Oil Price) – Saudi Arabia, the United Arab Emirates, and Qatar continue loading oil and LNG onto vessels at their Persian Gulf ports despite the attacks on two commercial vessels near the Strait of Hormuz and the weekend tensions between the U.S. and Iran. The Middle Eastern producers are rushing to load oil and LNG while the Strait of Hormuz is
(World Oil) – The largest oil producers in the Middle East Gulf have deepened production cuts and are already lowering output by a combined more than 5 million barrels per day (bpd) as the de facto halt to tanker traffic in the Strait of Hormuz has started to affect upstream production. As storage fills and crude has no way out of
