Iraq
Erbil, Kurdistan — an estimated 150,000-200,000 barrels per day of oil has been shutdown after a wave of drone attacks on oil facilities in Iraq’s Kurdistan oil sector. 🗣️ “The Kurdistan Region has lost nearly 200,000 b/d after drone attacks by criminal militias on Baghdad’s payroll.
Middle East
ERBIL — Oil infrastructure in northern Iraq came under direct attack Tuesday as explosions rocked two of the Kurdistan Region’s most critical oil fields — Sarsang and Khurmala — disrupting output and escalating tensions across a region already under U.S. scrutiny for illicit oil flows to Iran. The twin incidents, which
Red Sea
GULF OF ADEN — A sharp escalation in Houthi maritime attacks in the Red Sea has reignited global fears over energy security after two Greek-flagged cargo ships have been attacked this week—the most serious disruption in months. The rise in attacks has sent tremors through global shipping, with insurance premiums
Saudi Arabia
RIYADH — July 7, 2025 — Saudi Aramco has raised its official selling price (OSP) for August crude exports. The state oil giant increased the price of its flagship Arab Light crude to Asia, its largest market, to $2.20 per barrel over the regional benchmark, up from $1.20 per barrel
OPEC
VIENNA — July 6, 2025 — OPEC+ has announced a larger-than-expected production hike of 548,000 barrels per day (bpd) for August 2025 — significantly above the anticipated 411,000 bpd. The surprise increase, led by Saudi Arabia and Russia, signals a pivot toward defending market share, even at the expense of price
