Markets

Libya's oil output has rebounded to 1.13MM b/d as of Oct. 8, 2024, following the resolution of a political crisis that had severely disrupted production.

Iran's crude oil exports have experienced a sharp decline, with estimated export loadings dropping to approximately 237K b/d as of early Oct.—this represents the lowest weekly total in at least two years.

The global oil market must navigate between geopolitical tensions and supply-demand dynamics.

Heightened tensions between Israel and Iran pushed futures prices for crude benchmarks to five-week highs.

Petrobras, Brazil's state-owned oil company, is making significant strides in revitalizing the Tupi oil field, one of the largest deep-water reserves globally.

Libya is set to resume its crude oil production following a political agreement aimed at resolving a protracted dispute over the leadership of its Central Bank.

OPEC+ oil producers are intentionally giving up market share by tightening supply to secure future investments, according to Alexander Novak, Russia’s deputy prime minister and a key OPEC+ official.

The country's recent announcement of extensive economic stimulus measures, including interest rate cuts and liquidity support, represents its most significant intervention since the pandemic.

Recent analyses provide critical insights into the trajectory of the US oil market, particularly regarding the projections for West Texas Intermediate (WTI) crude oil prices.

US biofuel producer Vertex Energy filed for Chapter 11 bankruptcy after enduring significant operational and financial challenges.