Markets

The latest EU crackdowns on Russia's energy industry are expected to have a limited immediate impact on China's purchases of Russian crude, according to trading, refining, and shipping sources

The once-lucrative flow of cheap Russian oil to key buyers like India is hitting a

The oil market navigated a turbulent week in mid-Jul. 2025, heavily influenced by US President Donald Trump's re-ignited tariff threats and the ongoing geopolitical shifts concerning Russia and Ukraine.

The consensus among analysts points to Brent crude prices remaining below $100/b through late 2025 and into 2026, largely due to a well-supplied market and concerns about demand.

OPEC+ faces production hurdles from Kazakhstan's overproduction, Nigeria's quest for higher targets, and Iraqi Kurdistan's stalled exports due to disputes and drone attacks.

North America saw a modest increase in rig activity in early Jul., primarily driven by Canada, while the US experienced a slight decline and diminishing oil output growth, with analysts forecasting a slowdown in domestic production despite long-term export potential.

Chevron's recent acquisition of Hess Corporation significantly boosts its presence in Guyana's prolific Stabroek Block.

The global oil market is currently navigating complex and often contradictory dynamics in supply and demand, with underlying physical market tightness persisting despite some mixed signals.

The global oil market saw significant fluctuations throughout the week, shaped by shifting geopolitical landscapes, OPEC+ supply decisions, and evolving US trade policy.

To continue the previous article (posted on Jul. 6 entitled OPEC+ Shifts to Market Share Strategy Amidst Compliance Challenges and Global Market Dynamics), the cartel's recent decisions mark a significant and aggressive strategic pivot, moving decisively from a price defense posture towards a robust pursuit of market share by accelerating crude oil output increases.