- Crude Oil (WTI) 94.36 USD/bbl 0.80%
- Crude Oil (Brent) 105.92 USD/bbl -0.80%
- NYMEX Natural Gas 3.25 USD/MMBtu 3.17%
- OPEC Basket Price 113.18 USD/bbl 1.07%
EGAS
EUG Highlights North El Nubariya Block For 2026 Bidding Round
The Egypt Upstream gateway has provided an overview of North El Nubariya block in the Western Desert, expected to be closed for bidding on December 14. The block, spanning an area of 3244 square kilometers (km²), contains seven drilled wells.
OPEC
OPEC+ Ministers Urge Enhanced Maritime Security as Freight Rates Surge
OPEC+ ministers reaffirmed their commitment to oil market stability and called for safeguarding maritime routes as shipping and insurance costs surge, adding to inflationary pressures and the burden on oil producers and consumers.
Diesel export
Russia Eyes Higher Diesel Exports Under Deal Announced by Trump
Russia could increase diesel exports to 3 million to 3.5 million metric tons per month by the end of 2026, potentially exceeding volumes announced by US President Donald Trump, according to Reuters.
Egypt
Egypt Attracts $6.7 Bn in Energy Sector Greenfield FDI in FY2025/26
Greenfield investments by foreign companies in the Egyptian oil and mineral resources sector rose to $6.7 billion during fiscal year (FY) 2025/26, up from $6.2 billion a year earlier, , according to the Central Bank of Egypt’s (CBE) balance of payments (BoP) report. Meanwhile, net foreign direct investment (FDI) inflows reached $190.2 million, compared with $598.3 million in the previous period, while outflows, reflecting the recovery of exploration, development and operating costs previously incurred by foreign partners, climbed to $6.5 billion from $5.6 billion.
Eni
Eni Divests Stakes in Indonesian Gas Assets to Pertamina, Medco
Italian energy company Eni has signed two binding agreements to sell its 10% stakes in selected Indonesian upstream assets to state-owned Pertamina and energy company Medco.
oil storage
Aramco Expands Overseas Oil Storage, Explores New Export Routes
Saudi Aramco is expanding its overseas oil storage capacity and evaluating additional crude export routes to strengthen supply security amid shipping disruptions and constraints affecting the Strait of Hormuz.
global oil demand
OPEC Cuts 2026 Oil Demand Growth Forecast to 400,000 bbl/d
OPEC expects global oil demand to grow by 400,000 barrels per day (bbl/d) in 2026, down from its initial projection of 1.4 million bbl/d, as market developments over the course of the year have prompted a reassessment, OPEC Secretary General Haitham Al Ghais said on October 12, Reuters reported.
Saudi Arabia
Saudi Arabia Targets Oil Pipeline Capacity of 10 mmbbl/d Within Three Years
Saudi Arabia aims to increase its oil pipeline capacity to 10 million barrels per day (mmbbl/d) over the next two to three years through several initiatives, including upgrades to pumping stations along the East-West Pipeline, Saudi Energy Minister Prince Abdulaziz bin Salman said on October 12, according to Asharq, Bloomberg’s Arabic news platform.
