The Organization of the Petroleum Exporting Countries' (OPEC) oil output is likely to reach its record in July. Supply from OPEC has risen to 33.41mb/d in July.
Satellite images show that the Islamic State (IS) has dug hundreds of pits in Mosul oilfields to store and refine crude oil after its refineries and oil tankers were destroyed.
Libyan forces fighting ISIS claim to have taken the port of Sirte as troops battle to drive militant out of their biggest stronghold outside Syria and Iraq.
OPEC's second-largest producer, Iraq, increased daily oil production to an all-time high of 4.5mb/d, according to estimates by the research firm, JBC Energy.
Iraqi troops liberated a gas refinery in the southern part of the strategically important city of Fallujah from Daesh militants, and also recaptured from Daesh's hands key parts of the northern refinery town of Beiji.
Libya’s Petroleum Facilities Guard (PFG), a force that controls oil terminals in eastern Libya, captured a town near the country’s biggest oil port of Es Sider after clashes with militants from the so called Islamic ...
The Islamic state's oil revenue has been cut down in half to about $250m per year as a result to air strikes, drop in oil price, and counter-smuggling efforts by neighboring countries.