AGP Executive Report
Last update: 6 hours agoOil and Shipping: Brent touched $110 a barrel, its highest since May, as attacks on tankers and energy infrastructure raised fears over Middle East supply. About 12 million barrels a day are still moving through Hormuz, but continued Houthi strikes on Saudi targets and threats to shipping keep prices elevated. Iraq: Baghdad estimates the conflict has cost the country $60 billion, as disruption to Hormuz-hit exports squeezes a state that relies on oil for most government revenue. In Kirkuk, operations at four oilfields have shifted to a BP-linked consortium, with output targeted at 450,000 barrels a day and associated gas also slated for development. Türkiye: Ankara plans to double output from its Sakarya Black Sea gas field with a new production platform, expanding domestic supply as regional energy risks mount.
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