OPEC and the next surplus

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By Newsbase analysts 26 July 2026
A post-war return of constrained barrels could tip today’s uneasy balance into oversupply, forcing OPEC+ back into a market-share struggle it may no longer control.
Ukraine has flexxed its air capabilities, but Iran also can hit Kyiv.

Has Ukraine declared war on Iran?

FSUOGM - Former Soviet Union Oil & Gas
MEOG - Middle East Oil & Gas
By bnm Gulf bureau 26 July 2026
Ukraine's Caspian strike killed an Iranian sailor and drew a retaliation threat from Tehran. Kyiv calls it interdicting the Iran-Russia arms route, but firing on a third state's vessel outside any declared war raises a harder question.
Iranian Energy Minister Abbas Aliabadi.

Iran adds 668 MW of generating capacity in a week as summer shortages bite

REM - Renewable Energy
By bnm Tehran bureau 26 July 2026
Iran added 668 MW of generating capacity in a week, including 70 MW of solar and a 160 MW combined-cycle unit at Asaluyeh, as Energy Minister Abbas Aliabadi pointed to weekly additions amid summer power shortages.
Oil holds above $100 a barrel as Washington's air campaign against Tehran grinds through a 13th night, Houthi attacks squeeze the last open route out of the Gulf, and the fallout spreads to piracy, insurance and Sudan's food supply.

Iran war closes Hormuz, Bab al-Mandeb simultaneously for first time ever

MEOG - Middle East Oil & Gas
By Ben Aris in Berlin Ben Aris in Berlin 24 July 2026
For the first time since records began, both of the Middle East's great oil chokepoints are shut at once for the first time ever. The Strait of Hormuz has been effectively closed since February 28, and now Bab al-Mandeb Strait is also shut.
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