Libya’s largest oilfield has seen output plunge after an armed group closed a key pipeline valve. Sharara production fell from about 340,000 bpd to roughly 120,000 bpd, with force majeure possible if the blockade continues. #Libya#Oil#OPEC
OPEC+ is expected to hold oil production policy steady for October after unwinding 1.65M bpd of cuts. With Brent near $94 and Hormuz disruptions constraining Gulf exports, physical supply is overshadowing OPEC+ quotas. #OPEC#Oil#Hormuz
Iraq wants to more than double oil production to 8–10 million bpd within six years, but first it needs a higher OPEC+ quota. Even then, limited export capacity and the Hormuz crisis could prove bigger obstacles than drilling. #Iraq#OPEC#Oil
ADNOC will overhaul pricing for its flagship crude grades from November 1, replacing Murban futures-based pricing with a Platts Dubai-linked formula. The move follows the UAE's exit from OPEC+ and signals greater commercial flexibility. #Oil#ADNOC#CrudeOil#OPEC
The IEA says global oil demand could fall by 1 million bpd in 2026—the first annual decline since 2020—as the Iran conflict and Strait of Hormuz disruptions reshape energy markets. OPEC also cut its 2026 demand forecast for a third straight month. #Oil#OPEC#IEA#EnergyMarkets
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