Benchmark Brent oil climbed above $100 a barrel after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn

Potential OPEC+ production cuts mooted this week by Saudi Arabia may not be imminent and are likely to coincide with the return of Iran to oil markets should it clinch a nuclear deal with the West

Turkey increased oil imports from Russia, including Urals and Siberian Light grades, beyond 200,000 barrels per day (bpd) so far this year compared to just 98,000 bpd for the same period of 2021

Iran increased its oil exports in June and July and could raise them further this month by offering a deeper discount to Russian crude for its main buyer China, firms tracking the flows said

Oil prices fell about 3% to their lowest since before Russia’s invasion of Ukraine as economic data spurred concerns about a potential global recession, while the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports

Royón will be accompanied by “Santiago Yanotti as Undersecretary of Electric Energy, Federico Bernal as Undersecretary of Hydrocarbons and Cecilia Garibotti as Undersecretary of Planning,” the new Minister of Economy, Sergio Massa, said

The official selling price (OSP) for September-loading Arab Light to Asia was raised by 50 cents a barrel from August to $9.80 a barrel over Oman/Dubai quotes, state oil producer Saudi Aramco said

 BP is increasing its spending on oil and gas by $500 million in response to soaring energy prices and tightening supplies, Chief Executive Officer Bernard Looney said

The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.98 million barrels per day (bpd) of crude last month, the survey found, up 310,000 bpd from June’s revised total

The Group of Seven richest economies aim to have a price-capping mechanism on Russian oil exports in place by Dec. 5, when European Union sanctions banning seaborne imports of Russian crude come into force, a senior G7 official said