- Crude Oil (WTI) 103.20 USD/bbl 4.11%
- Crude Oil (Brent) 117.38 USD/bbl 3.89%
- NYMEX Natural Gas 2.64 USD/MMBtu -3.65%
- OPEC Basket Price 115.09 USD/bbl 3.41%
recommendations
MOC 2026 Concludes With Calls to Boost Oil Production, Investment
Egypt’s Mediterranean Oil and Gas Conference and Exhibition (MOC 2026) concluded on 23 October with recommendations to accelerate exploration, increase oil and natural gas production, attract investment, expand regional energy cooperation and deploy advanced technologies across the sector, according to a statement by the petroleum ministry.
diesel
US Refiners Increase Output as Diesel Shortages Boost Margins
US refiners have operated at higher-than-normal rates in 2026 as tight global supplies of refined fuels, particularly diesel, have boosted profit margins, Reuters reported on October 22, citing data by the US Energy Information Administration (EIA).
session
Egypt’s Oil Sector Highlights Gas, Technology as Drivers of Industrial Growth at MOC 2026
Egypt’s oil and gas sector highlighted the role of natural gas, advanced production technologies, and regional cooperation in boosting industrial growth and maximizing economic returns at the Mediterranean Offshore Conference and Exhibition (MOC 2026), according to a statement by the petroleum ministry on October 22.
asia
Asia Needs $1 Tn in Annual Energy Investment for 15 Years, McKinsey Say
Asia is required to invest as much as $1 tn annually in energy over the next 15 years to strengthen energy security, as countries reassess their reliance on imported fuels following disruptions caused by the Iran war, Reuters reported on October 22, citing a report by US-based consultancy McKinsey.
Kuwait
Kuwait Raises Oil Output Above 2 Mmbbl/d Amid Iran War
Kuwait has raised oil production to more than 2 million barrels per day (mmbbl/d) after output fell to nearly zero at the height of the Iran war, Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Al-Sabah said in an interview with Bloomberg on October 22.
renewable energy
Egypt Says One GW of Renewable Energy Saves $250 Mn in Gas Imports
Egypt’s Finance Minister Ahmed Kouchouk said each additional gigawatt of renewable energy capacity saves about $250 mn in gas imports, as the government seeks to reduce energy costs and strengthen public finances, according to a cabinet statement on October 22.
fuel prices
Madbouly Outlines Three Measures to Address Rising Oil Prices
Prime Minister Mostafa Madbouly said during the Egypt Forum 2026 that rising oil prices to $110 per barrel leave the government with three options: passing the higher costs on to citizens, absorbing them through the state budget, or to maintain the budget’s existing allocations and purchase petroleum products at higher prices within available resources, according to a Cabinet statement issued during the Egypt 2026 Forum.
EGPC
MOC 2026: Petroleum Sector Leaders Outline Plans to Boost Output, and Draw Investment
Senior petroleum officials outlined plans to boost domestic output, reinforce energy security, attract investment, and maximize natural gas value at the Mediterranean Petroleum Conference and Exhibition (MOC 2026). Global and local executives highlighted Egypt’s potential as a regional energy hub, citing advanced infrastructure, strategic location, and opportunities in oil, gas, and petrochemicals. At a session on “Gas in Transition, Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), detailed efforts to make Egypt’s petroleum industry more investor‑friendly, raise production, and narrow the supply gap. He said the government is modernizing operations, easing procedures, and offering incentives to keep pace with global changes and draw international partners with strong capital and technology.
