- Crude Oil (WTI) 99.99 USD/bbl 0.89%
- Crude Oil (Brent) 104.32 USD/bbl -4.42%
- NYMEX Natural Gas 2.83 USD/MMBtu 0.71%
- OPEC Basket Price 114.89 USD/bbl 2.35%
International Energy Agency
IEA Sees 2026 Oil Supply Falling 5.7 mmbbl/d as Gulf Disruptions Persist
The International Energy Agency (IEA) expects global oil supply to fall by 5.7 million barrels per day (mmbbl/d) in 2026 as continued Middle East disruptions delay the return of normal Gulf oil flows into 2027, according to Reuters.
Egypt
El-Sisi: Energy Leads Egypt, Cyprus, Greece Ties
"The energy sector remains at the forefront of cooperation between Egypt, Cyprus, and Greece", President Abdel Fattah El-Sisi said in a joint press conference following the trilateral cooperation summit with Nikos Christodoulides, the Cypriot President, and Kyriakos Mitsotakis, Greek Prime Minister, in New Alamein. The president’s remarks cap years of trilateral cooperation, positioning energy as both a tool of regional diplomacy and a driver of economic integration. From pipelines and LNG terminals to electricity interconnectors, the sector anchors the partnership while reinforcing Egypt’s role as a Mediterranean hub.
Dagnote Refinery
Dangote Refinery IPO Approved by Nigeria’s SEC
Nigeria’s SEC has approved the IPO of Dangote Refinery, which could raise $1.63 billion and support plans to double the facility’s capacity to 1.4 million barrels per day (mmbbl/d).
refinery
Aster Shifts Crude Buying to Americas, Africa Amid ME Disruptions
Singapore-based Aster Chemicals and Energy has shifted part of its crude procurement toward the Americas and Africa after disruptions to Middle Eastern oil supplies caused by the ongoing Iran war. The refiner previously sourced about 70% of its crude from the Middle East, but has now turned to suppliers in West Africa, Latin America, the US, and Canada, according to Han Lih Kwong, senior general manager at Aster, who spoke at the APPEC conference.
US
US Gas Output and Demand Set for Record Highs in 2026–27
US natural gas production and domestic demand are expected to hit record levels in 2026 and 2027, while LNG exports are also forecast to rise, according to the EIA.
Egyptian General Petroleum Corporation (EGPC)
Cabinet Allows Production to Continue at Expiring Petroleum Development Areas
Egypt’s Cabinet approved a Ministry of Petroleum and Mineral Resources request to continue production from petroleum development areas where contracts have expired or are nearing expiry, aiming to maintain current production levels.
Energean
Energean Records 45% Rise in H1 2026 Profit
Energean plc, a London-based independent exploration and production company, reported a 45% year-on-year increase in profit after tax to $160 million during the first half (H1) of 2026, according to the company’s latest results. Free cash flow rose 35% year-on-year to $250 million, while net debt declined by $97 million in the second quarter (Q2) of 2026. The company’s net receivables also fell 64% to $75 million following $226 million in collections, reaching their lowest level since 2020.
Sinopec
Sinopec: China’s Oil Demand to Fall 8.9% in 2026
China’s oil demand is expected to decline by 600,000 barrels per day (bbl/d), or 8.9%, in 2026, marking the third consecutive annual contraction, according to research from the China Petroleum & Chemical Corporation (Sinopec) research arm, as weaker gasoline and diesel consumption accelerates a structural shift in the world’s largest oil-importing market.
