OPEC+ oil-producing countries will likely agree a further hike in ‌output targets from September, even though the Iran war is again hindering some of its members from pumping more

During the second quarter, GeoPark drilled and completed six wells in the Llanos 34 and Llanos 123 blocks in Colombia, and drilled five wells in Vaca Muerta, which were undergoing hydraulic fracturing at the end of the quarter. The company operated a total of eight rigs, including four drilling rigs and four workover rigs

Brent crude, the European benchmark, rose 3.9% to $87.5 per barrel for September delivery as the conflict in the Middle East intensified

TotalEnergies said its hydrocarbon production is expected to reach nearly 2.4 million barrels of oil equivalent per day (mboe/d) in the second quarter of 2026

Goldman Sachs strategists say the physical oil market is tightening as renewed attacks on tankers in the Strait of Hormuz reverse an earlier recovery in Persian Gulf exports

OPEC lowered its forecast for world oil demand growth in 2026 to 780,000 barrels per day, a copy ​of its monthly report showed, marking the third straight downward revision

The U.S. Energy Information Administration raised its global oil production forecast after the reopening of the Strait of Hormuz following a June 18 agreement between the United States and Iran

OPEC+ oil-producing ​countries will likely agree on a further hike in their output targets from August when they ‌meet on Sunday, adding to supply at a time of falling prices as the Strait of Hormuz gradually reopens

Oil prices appear to have settled into a ​range of $72 to $75 a barrel, although the market has yet ‌to fully normalize and the conflict in the Middle East continues to create uncertainty, the chief executive officer of Brazil’s state-run oil firm Petrobras

es walk away less than two months ago.

Iraq is the group’s second-largest producer after Saudi Arabia and one of its five founding members. OPEC was formed in the Iraqi capital in 1960