Amena Bakr
@Amena__Bakr
Head of Middle East Energy & OPEC+ Insights @Kpler. Award winning journalist, Ex-Reuters/@energyintel. abakr@kpler.com. All views are mine.
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Iran’s oil production and revenue squeeze is intensifying: Iran has loaded no crude or condensate cargo since August 25, and tankers loaded since mid-July have been unable to cross the blockade line. NIOC has consequently cut production to domestic requirements—below 2 million b/d this fall as seasonal demand declines. @Kpler #OOTT#
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Wirth says Chevron takes a long term view in Venezuela and they have a long history of being there. Chevron has 300k of production there and they intend to double that level of output. #OOTT#
Chevron’s CEO Michael Wirth says demand for oil will continue to increase and chevron will invest in hardening the resilience of their assets #OOTT#
Sheikh Nawaf said that Kuwait can bring production up to 3 million bpd if the export routes are opened #OOTT#
The latest on Hormuz flows according to Kpler's data. The latest 7-day average for total Hormuz clearance is 14.19 million bpd compared to a prewar baseline of 17.13 million bpd. #OOTT#
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Another 188k of unwinding of supply for August expected from the OPEC+ members with voluntary cuts #OOTT#
