Crude oil exports out of the Persian Gulf reached 81% of pre-war levels last month, according to fresh data from Kpler and Vortexa, cited by Reuters. The data excludes Iranian oil exports, which have dropped to zero, according to the analytics firms.
OPEC+ agreed on Sunday to keep its oil production quota for next month unchanged from this one, in line with expectations, after it unwound its production cuts earlier this year in a bid to offset the deepening supply shortage from the Middle East.
Curious Minds Corner
What does SCADA stand for in oil and gas operations?