Markets

The African energy landscape is being reshaped as International Oil Companies (IOCs) divest from legacy onshore assets and refocus capital on deepwater exploration and integrated gas projects.

The Asian crude market is caught between the rising cost of transporting US oil and the strategic push by Asian buyers to reduce reliance on the Middle East, even as cheaper Middle Eastern benchmarks make the long-haul US route increasingly uneconomical.

The global oil sector is grappling with a paradox: while European refineries face existential pressure to pivot to clean fuels, major international oil companies (IOCs) are cutting jobs and spending to survive short-term price pressure, all while remaining fundamentally bullish on oil's long-term future.

Despite pervasive forecasts of an oil glut leading to a price crash, benchmark oil prices have remained remarkably stable, refuting the

The week of Sep. 22–26, 2025, was marked by significant volatility in global oil markets, driven by escalating geopolitical tensions and shifting supply dynamics.

Global oil demand growth is tracking at approximately 0.8 MM b/d year-to-date through Sep. 17, with an average of 104.4 MM b/d, closely aligning with J.P. Morgan (JPM) forecasts.

The OPEC+ group's actual increase in oil output is significantly trailing the headline figures agreed upon to unwind voluntary cuts.

According to the Baker Hughes rotary rig count released on Sep. 19, North America added six rigs week-on-week, marking the third consecutive weekly increase, bringing the total count to 731 (542 in the US and 189 in Canada).

The global energy and geopolitical landscape is being reshaped by intensified pressure from the US and escalating military conflict.

A major, two-and-a-half-year supply disruption in the global oil market has ended, with Iraq, the Kurdistan Regional Government (KRG), and Turkey agreeing to resume oil exports via the Iraq-Turkey pipeline starting on Sat., Sep. 27.