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The #UAE’s energy minister سهيل المزروعي hasn’t taken an oil question in over a year. But Dan Murphy of CNBC asked anyway and Mazrouei finally answered, weighing in on #Opec+’s market role and strategy. #oott

Reminder 🇫🇲: The #Opec+ group has three meetings scheduled for today: •JMMC •Opec ministerial •Opec+ ministerial Looking back at the outcome of the group’s December meeting, two agenda items needs tackling: an update on baseline assessments, and “compensation & compliance.”

#Opec+ JMMC and ministerial meetings conclude. Generally, it's about reaffirming what policies were already in place. Highlights below: #oott

🇺🇸🇮🇷 Q: "On Iran, did you warn Prime Minister Netanyahu against taking some sort of actions that could disrupt the talks there in a phone call last week?" Trump: "Well, I'd like to be honest. Yes I did." #oott

Wood Mackenzie estimates that global carbon capture capacity will grow to 556 Mtpa by 2030 based on the announced project pipeline, of which 76 Mtpa was in operation at year-end 2024

#Kazakhstan minister says oil price above $70-$75/bbl likely suits all countries #oott reuters.com/business/energ…

🇮🇷💧 #Iran is just lurching from one crisis to the next. If a sputtering economy and power cuts weren't bad enough, water shortages now seem almost inevitable. "Since 22 September, total rainfall has been just 141.7mm, which is down 40% vs 238mm over the same period last yr."

Of the various workarounds, the consortium scheme and an enrichment freeze have gotten the most press. Both are likely to raise objections from either side.

Not again! #Libya's eastern-based government threatens to shut down oil output Libya currently produces just under 1.4mn b/d of crude If they're serious, they could theoretically shut down almost all of that. But they would also be hurting themselves argusmedia.com/en/news-and-in…

Rinse and repeat.

#Breaking: #Opec+ core group of 8 decided another 411,000 b/d output increase for the month of July, part of their unwinding process of a 2.2mn b/d cut, a delegate source told Argus Media. #oott

#Opec+ to continue its accelerated pace of output hikes for July Means it will have returned more than half of its scheduled unwinding of its 2.2mn b/d cuts in just four months with Bachar EL-Halabi | بشار الحلبي argusmedia.com/en/news-and-in…

I’m not sure what people expect, to be honest. The Iranians aren’t going to suspend enrichment or limit their stock of 60% enriched uranium for free. It’s leverage for them in this negotiation.

🇮🇷🇺🇸 ☢️ Iran's foreign minister Seyed Abbas Araghchi says his Omani counterpart Badr Albusaidi - بدر البوسعيدي made a short trip to Tehran today "to present elements of a US proposal thay will be appropriately responded to." #oott

Incredible dynamic: Hamas keeps pushing for a provision that would see it relinquish power in Gaza and Israel keeps putting it back in to keep Hamas as the governing authority.