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Iraq's May Oil Exports to U.S. Surge Past 5 Million Barrels

OilPrice

Iraq’s crude oil exports to the United States surged past 5 million barrels in May, marking Baghdad’s highest monthly volume to U.S. The surge reflects sustained U.S. appetite for heavier Middle Eastern grades, with Iraqi crude averaging between 160,000 and 190,000 barrels per day last month.

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Oil Tanker Explodes Off Libyan Coast

OilPrice

The ship that carried about 1 million barrels of crude oil sustained a blast on June 27, a spokesperson for operator TMS Tankers told Reuters on Monday. The tanker had left the Libyan port of Zuetina and was en route to Gibraltar when an explosion occurred in the engine room.

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Crude Below $65 Squeezes U.S. Shale, Even as Drivers Celebrate

OilPrice

In a market increasingly governed by geopolitical tremors and macroeconomic mismatches, crude oil dipping below $65 per barrel seems like a gift to global consumers. shale producers, many of whom are being forced to pull back on production, delay capital projects, and recalculate what sustainability means in a low-margin world.

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U.S. Energy Secretary: Shale Could Boost Production Even at $50 Oil

OilPrice

shale producers could increase production even if oil prices fell to $50 per barrel as the sector continues to innovate and boost efficiency gains, U.S. The shale industry can sustain a lower price of oil, according to Wright, a former boss at fracking firm Liberty Energy. Secretary of Energy Chris Wright told the Financial Times.

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OPEC+ members agree to larger-than-expected oil production hike in August

CNBC: Energy

million barrels per day of voluntary production cuts, which are separate from the wider OPEC+ strategy. Anadolu | Anadolu | Getty Images Eight oil-producing nations of the OPEC+ alliance agreed on Saturday to increase their collective crude production by 548,000 barrels per day, as they continue to unwind a set of voluntary supply cuts.

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Big disruption to oil supply unlikely after Israel’s attack on Iran, say analysts

Oil & Gas 360º

(Investing) – Israel’s attack on Iran is unlikely to cause a major disruption to oil supply, analysts at two major banks said, but a worst-case scenario involving blockades in the Strait of Hormuz could push prices above $100 per barrel, Goldman Sachs said. per barrel. [O/R]

Oil 130
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ExxonMobil, Global Clean Energy Expand Renewable Diesel Agreement

NGT News

ExxonMobil, a publicly traded international energy company, and Global Clean Energy, a developer of sustainable, non-food energy crops for use in biofuels, have expanded their five-year agreement to increase ExxonMobil’s purchase of renewable diesel up to 5 million barrels per year.

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